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.

May 15th, 2019: SP-500 Chart Update

Posted by pugsma on May 15, 2019

4:40 pm EST: As expected by both wave counts, the SP500 price dropped at open to 2815 then move up to 2859.  See the wave count details on the 15-min chart.  The key level to watch to separate the primary (green) from alternate (blue) count is at the 2872 pivot, which is the 50% Fib (2878) and daily ST moving averages.  Above 2878, it’s likely the major [2] low is in place at 2801.  A break below 2801 before above 2878 and the major [2] should target the 2723 level.

I’m watching for 2 Confirming Indicators that the Major [2] low is in place at 2801:

1) $NYMO close above the zero line (closed today near -15 off a -65 low at SP 2801).
2) NYSE A-D Line new high (closed today a little more than half-back to a new high)

Typically $NYMO closing above zero would happen first and well ahead of the SP500 price reaching a new high.

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

 

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: