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.

  • Meta

  • Follow Blog via Email

    Enter your email address to follow this blog and receive notifications of new posts by email.

  • Subscribe

  • PUG Wave Labeling

    SCI-SCV, SCA-SCC: Super Cycle
    C1-C5, CA-CC :Cycle
    P1-P5, PA-PC : Primary
    [1]-[5], [A]-[C] : Major
    1-5, A-C : Minor
    (1)-(5), (a)-(c) : Minute
    i-v, a-b : Minuette
    Primary Count:
    White/Green (Bull Market)
    White/Red (Bear Market)
    Alternate Count: Blue

  • Categories

  • Archives

February 27th, 2020: SP-500 Chart Update

Posted by pugsma on February 27, 2020

5:00 pm EST:   Only one chart (daily) required tonight and one level (2954) to watch going into tomorrow.    A break below 2954 signals the Cycle 1 (C1) top at 3394.

The primary (green) count major [4]-P5-C1 must stop now at the 2977 low and hold the major [1] high of 2954 to remain valid.    This would then allow the potential for a new all-high above 3394 for major [5]-P5-C1 later in the year.  The major [5]=[1] target is 3584.

For the new alternate (red) count, the Cycle 1 (C1) top occurred at 3394 after a large major [4]-P5-C1 triangle consolidation during the summer of 2019 and a relentless major [5] wave up to just above triangle target of 3327.   (Although it’s not really a new wave count, as I was showing this C1 count as the primary for most of Q4-2019, see the Dec 31st, 2019 SP-500 Daily Chart at the bottom.)  Thus, the Cycle 2 (C2) wave to new lows below 2347 is underway, since the 3394 high.  The 50%/62% Fibonacci target for C2 is at 2031/1703 (i.e retracing 50%/62% of the 10+ year C1 wave up form March of 2009).   This rapid move down from 3394 to 2977 thus far is major [1] of PA-C2.  Assuming major [1] ends here near the 2941 pivot area, that major [2] wave 50%/62% Fib targets are 3186/3236.  Once major [2] completes, major waves [3],[4], and [5] with take the Primary A (PA) wave down to the 2347 low..

SP-500 Daily Chart (2-27-20):

SP500 Technical Analysis

SP-500 Daily Chart (12-31-19):

SP500 Technical Analysis

Sorry, the comment form is closed at this time.

%d bloggers like this: