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.

December 2nd, 2019: SP-500 Chart Update

Posted by pugsma on December 2, 2019

12:45 am EST:  The SP-500 likely topped major [3]-P5-C1 at 3154 last Wednesday.  A break below 3091 would confirm.  The major [4] pull-back should hold the 3028 pivot area, before major [5] breaks to a new all-time high above 3154 (target 3200 area).

SP-500 15-min chart:

SP500 Technical Analysis

SP-500 60-min chart:

SP500 Technical Analysis

SP-500 4-hr chart:

SP500 Technical Analysis

6 Responses to “December 2nd, 2019: SP-500 Chart Update”

  1. pugsma said

    Looking for major [4] to take the SP-500 price down below the lower BB (3062) and toward the 50-SMA (3031).

    This should also drive the NYMO below -60 and the VIX above 20.

    Historically December is typically weak into mid-month and then a rally into early January.

  2. pugsma said

    A 5% (150 point) pullback from 3154 to 3004 is ideal here.

    • pugsma said

      Remember this major [4] wave will be a minor A-B-C structure.

      Minor A wave will likely end this morning at 3075 and then a Minor B wave 50% Fib retrace to 3115, before Minor C wave to C=A=3035.

  3. pugsma said

    Peanuts? I prefer cashews !

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: