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.

May 15th, 2020: SP-500 Chart Update

Posted by pugsma on May 15, 2020

2:55 pm EST (Updated 4:00 pm EST):   The debate here is where does the wave minute (1) of minor 5 of major [1]-P1-C3 end.

The primary (green) count is that wave iii-(1) is on going and a strong close today that should push the SP500 price towards the iii=1.62*i target of 2877.   And the minute (1) wave should reach the 2900 to 2910 area early next week, before the minute (2) wave pull-back.

There is also alternate (blue) count that has minute (1) complete today at 2862, which could produce a drop for minute (2) to the 50%/62% Fibs at 2815 to 2803 going into the weekend.

The minor 5 targets are at M5=0.62*M1 = 3042 (blue) to M5=0.78*M1 at 3113 (green).

Have a great weekend !!!

SP-500 15-min chart (2:50 pm EST):

SP500 Technical Analysis

SP-500 60-min chart:

SP500 TEch

SP-500 4-hr chart:

SP500 Technical Analysis

SP-500 daily chart:

SP500 Technical Analysis

SP-500 weekly chart:

SP500 Technical Analysis

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: