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January 1st, 2019: SP-500 Monthly Chart Progression During 2018

Posted by pugsma on January 1, 2019

In early year 2018 (Feb 5th), PUG SMA posted the SP-500 monthly chart after the initial January decline from 2872.  The Cycle 1 (C1) of Super Cycle V (SC-V) top was expected during the year 2018 in the 2870 price area with a time estimate of April to August.   In January 2018 the price had reached the 2870 target, however the time frame target indicated one additional slightly higher peak later in 2018.

In the summer of 2018 (Aug 28th), PUG SMA posted the SP-500 month chart at the end of August with the SP-500 price at 2897 having surpassed the 2872 January peak.  This was the indication that Cycle 1 (C1) top was very close at hand, as both price and time targets had been satisfied.

On September 21st, 2018 the SP-500 price peaked at 2941 and by December of 2018 the SP-500 price had fallen down to 2347 ( -20.1% decline ), as seen below in the December 31st monthly chart.

Looking at the December 31st, 2018 monthly, the Cycle 2 (C2) wave is expected to retrace 50%/62% of Cycle 1 (C1) and reach the 1804 to 1531 price target ( –38.6 to -47.9% Decline ) by October 2020.

SP-500 Monthly Chart (2-5-18):

SP500 Technical Analysis

SP-500 Monthly Chart (8-28-18):

SP500 Technical Analysis

SP-500 Monthly Chart (12-31-18):

SP500 Technical Analysis


4 Responses to “January 1st, 2019: SP-500 Monthly Chart Progression During 2018”

  1. pugsma said

    Notice that the 200-month SMA is right at the 1535 pivot, which is the Cycle 2 target area.

  2. andthis said

    Steve, thanks for the post. Great charts that provide a valuable perspective.

  3. Rodney Mruk said

    $NYMO is making its move above +20. It must close there and then it will be a confirmation of the current rally just as outlined many days ago in the charts above.

  4. curtacoma said

    Steve, thanks for this update. Apologies if I missed a post while i was off the blog for a while last year, but have you updated a longer term 5-10 year count recently? Thanks, great to be back here, excellent blog, no chatter!

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