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.

July 16th, 2019: SP-500 Chart Update

Posted by pugsma on July 16, 2019

4:45 pm EST:  The primary (white/green) count is that wave minute (3) of minor 3 of major [3]-P5-C1 is underway off the 2963 wave minute (2) low.  The minute (3)=1.62(1) target is at 3098.  The minor 3=1.23*minor 1 target is at 3203.  A decisive break above 3046 would confirm the primary (white/green) wave count.

The alternate (blue) count has either topped at 3018 or is in the final small waves of minute (c) of minor 5 of major [5]-P5-C1.   The alternate (blue) count remains valid below the End Diagonal maximum of 3046.

SP-500 15-min chart:

SP500 Technical Analysis

SP-500 60-min chart:

SP500 Technical Analysis

SP-500 4-hr chart:

SP500 Technical Analysis

4 Responses to “July 16th, 2019: SP-500 Chart Update”

  1. pugsma said

    I find this SP500 Breadth Chart Analysis to extremely interesting.

    Might mean that the primary (white/green) should have minor 1 of major [3]-P5-C1 ending here nest 3018 and pull-back for minor 2 will drop the SP-500 to a 50% FIB retracement at 2873.

  2. Would this also be the place where a wave 2 up might be for the blue count?

  3. rat8nine said

    It’s interesting to me that with spy, dia, and qqq hitting new all time highs Monday and then dia again yesterday, the faang stocks have not. They were the leaders, but on this move since late December, they have only retraced that move to different degrees. nflx reported earnings just now, and if it opened tomorrow where it is now, it is down around 17% in a few days.

Leave a Reply

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

You are commenting using your 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: