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.

April 28th, 2020: SP-500 Chart Update

Posted by pugsma on April 28, 2020

4:55 pm EST:   The SP-500 gapped up from 2878 to 2910, hit a early morning high at 2921 and faded all day to close at 2863.

The primary (green) count is that minor 4 of major [1]-P1-C3 completed as an expanded flat at 2727.  The minor 5 wave of major [1] is underway that should end above 2879 to complete major [1].   Wave minute (1) of minor 5 completed at 2845 and minute (2) retraced nearly 50% to 2792.  Wave minute (3) ended at 2921, just above the minute (3)=(1) level of 2910.   Minute (4) dropped to 2861 and now minute (5) is headed to the minute (5)=(1) target at 2979.  There is a measured move target at a 2983, where 2852 + (2852-2721).  This primary (green) count is valid for minute (4) above the minute (1) high of 2845.

The alternate (blue) count is that major [1]-P5-C3 topped at 2921.  The major [2] wave is underway that should retrace to at least the 38% Fib target of 2643.   The simplest form for major [2] is a minor A-B-C, zig-zag, where minor A drops to the 2759 pivot, minor B makes a 50% Fib retrace to 2840 and minor C drops to C=A at 2678.  The alternate (blue) count remains valid below 2921.

SP-500 5-min chart:

SP500 Technical Analysis

SP-500 15-min chart:

SP500 Technical Analysis

SP-500 60-min chart:

SP500 Technical Analysis

SP-500 4-hr 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: