Technical Analysis Blog | PUG Stock Market Analysis, LLC

PUG Stock Market Analysis is here to help with SP500 technical analysis, stock analysis and more. Read our technical analysis blog to learn more.

February 1st, 2019: SP-500 Chart Update

Posted by pugsma on February 1, 2019

4:20 pm EST:  It time to fine tune the two completing wave counts.   The SP-500 price is a critical point here just below the 200-day SMA (2742).  In bear markets, once the SP-500 price dips more that 10% below the 200-day as it did on the drop to 2347 in late December 2018, the SP-500 price rebounds are typically contained by the flattening to falling 200-day SMA.  Thus, for the primary (red) Cycle 2 (C2) bear market wave count to be correct, the SP-500 price must begin to flatten and fall from this 2742 area.

The primary (red) wave count is that PX-C2 is topping here below the 200-day SMA of 2742.  Next should be a PY wave much lower than 2347.  The PY =1.62*PW target is at 1754, which is near the 50% Fibonacci retrace (1804) of the Cycle 1 (C1) wave.

The alternate (blue) wave count is that P5-C1 is underway since the P4 low at 2347 and should make a new all-time high near 3050/3100.   That major [1]-P5 wave is topping here near 2717 and the typical major [2] Fibonacci retrace target of 38%/50% is at 2576/2532.

Have a great weekend !!!

SP-500 15-min chart real-time link:  http://www.freestockcharts.com?emailChartID=2d230a84-6c3b-44e2-acb4-8d814e16d39d

SP-500 15-min chart:

SP500 Technical Analysis

SP-500 60-min chart:

SP500 Technical Analysis

SP-500 4-hr chart:

SP500 Technical Analysis

SP-500 daily chart:

SP500 Technical Analysis

SP-500 weekly chart:

SP500 Technical Analysis

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

 
%d bloggers like this: