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.

February 10th, 2020: SP-500 Chart Update

Posted by pugsma on February 10, 2020

5:30 pm EST:   The SP-500 opened gap down to hit 3318 and then rallied to new all-time high to close at 3352.  The alternate (blue) count won out and is now the primary (green) count.

The primary (green) wave count has the minor 4 of major [3]-P5-C1 wave complete at 3215, which is between the 23%/38% Fib at 3229/3156.  The minor 5 of major [3]-P5-C1 wave up is underway since 3215 and has made a new all-time high above 3338.   For minor 5, minute (1) hit 3368, minute (2) dropped to 3244 and minute (3) wave ended at 3348.  Minute (4) wave completed today at 3318 and thus the minute (5)=(1) wave target is at 3371.   The initial target for the completion of minor 5 of major [3] is at 3400, where minor 5 = 0.62*minor 1.  Once the major [3] wave completes between 3371 and 3400, there will be a significant major [4] wave pull-back to the 23$/38% Fib at 3246/3145.   Finally major [5]-P5-C1 should reach levels above 3400 to between 3500-3700.

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

%d bloggers like this: