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.

April 4th, 2019: SP-500 Chart Update

Posted by pugsma on April 4, 2019

6:00 pm EST:   Per the primary count wave minute (1) of minor 3 of major [5]-P5-C1 reached 2885.  A small minute wave (2) pull-back to a 38% Fibonacci retracement at 2847 is due next.  The drop from 2885 to 2865 was wave a-(2) and the move up to 2881 is b-(2).  There should be one more leg down to c=1.62a=2848.   Once wave (2) completes, there should be a strong push up for wave minute (3) of minor 3, toward at target of 2970.  The minor 3 wave target is at 2996, where minor 3 = 1.62*minor 1, the major [3] is 3013 and the P5=P1 target is at 3051.

An alternate (blue) count is that minute wave (1) is still headed higher to a 2904 target where v=i.  This consolidation around the 2872 pivot could be a wave iv-(1) triangle, with the wave v-(1) push up yet to come.  Then from the wave (1) high at 2904, there would be minute wave  (2) drop to the 38% Fib at 2858.

SP-500 15-min chart real-time link:  http://www.freestockcharts.com?emailChartID=6b6ba84b-b1c2-44b5-a3e6-e14d4f410fee

SP-500 15-min chart:

SP500 Technical Analysis

SP-500 60-min chart:

SP500 Technical Analysis

SP-500 4-hr chart:

SP500 Technical Analysis

Leave a Reply

 
%d bloggers like this: