PUG Stock Market Analysis, LLC | Technical Analysis Blog

PUG Stock Market Analysis is here to help with SP500, QQQ, IWM, Gold technical analysis, stock analysis and more.

March 19th, 2019: SP-500 Chart Update

Posted by pugsma on March 19, 2019

6:30 pm EST:   The SP-500 price reached a new recovery high (off the 2347 Dec 24th low) at 2852 for this P5-C1 wave.

The primary (white/green) wave count is that is that minor 1 of major [3]-P5-C1 completed today at 2852.   There should be a minor 2 wave pull-back to the 38%/50% Fibonacci retracement area of 2803/2787.   The minor 2 wave should unfold as minute (a)-(b)-(c), where minute (a) might have concluded today at 2823, wave (b) to 2837 and (c)=(a) at 2809 or (c)=1.62(a) at 2790.

The alternate (blue) wave count is that minor 3 of major [3]-P5-C1 is underway off the minor 2 low at 2803.  Wave minute (1) of minor 3 concluded today at 2852 and wave minute (2) ended at 2823.  Wave (3) of minor 3 up should be underway.  A drop below 2803 invalidates this alternate (blue) count and confirms the primary wave count.

SP-500 15-min chart real-time link:  http://www.freestockcharts.com?emailChartID=fe37b6eb-c464-4f8e-9bb3-0597d658a38d

SP-500 15-min chart:

SP500 Technical Analysis

SP-500 60-min chart:

SP500 Technical Analysis

SP-500 4-hr chart:

SP500 Technical Analysis

 
%d bloggers like this: