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.

June 17th, 2020: SP-500 Chart Update

Posted by pugsma on June 17, 2020

4:50 pm EST:  The SP-500 opened flat near 3125 and traded in a tight range between 3108 and 3141 all day.

The primary (white/green) count is that minor 2 of major [3]-P1-C3 bottomed today at 2966, just above the typical 62% Fib of 2943.   The minor 3 wave is underway to a target at 3721, where minor 3 = 1.62*minor 1.  Within in the minor 3 wave, minute (1) likely completed at 3153 and the minute (2) wave is looking to retrace toward the 50% Fib at 3059.  This primary (white/green) count remains valid above 2966.

The alternate (blue) count is that minor A of major [2] bottomed at 2966.  The minor B wave retraced to 3153, just below the minute (c)=(a) target of 3158.  The minor C wave should drop to C=A target at 2886 in the range of the 30%/38% Fib of 2920/2837.   This alternate (blue) count remains valid below 3233.

SP-500 5-min chart:

SP500 Technical Analysis

SP-500 15-min chart:

SP500 Technical Analysis

SP-500 60-min 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: