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

June 24th, 2022: SP-500 Chart Update

Posted by pugsma on June 24, 2022

5:40 pm EST: The SP-500 gapped up from 3796 to 3822, rose to hit 3886, dropped to 3872, traded sideways, then rallied into the close to hit 3912 (day’s high).

Technical Indicators: Print SharpCharts from StockCharts.com

  1. Since Friday, June 17th, I pointed that the SP500 vs NYMO vs VIX chart was pointing to ST and IT bottom at 3637 due to the +DIV on the NYMO and -DIV on the VIX. On Monday, June 13th the NYMO closed at -77 with a 4-month long +DIV. And then on Thursday, June 16th the NYMO closed with a ST +DIV at -72. Today, June 24th the NYMO closed at +35.

Wave Counts:

  1. The primary (white/green) wave count is that minute (5) of minor 5 of major [C]-P2-C3 completed at 3637, where [C]=1.38[A] at 3665 and the P3-C3 wave up to new all-time higsh is just getting underway. The Minute (1) of minor 1 of major [1]-P3-C3 wave completed at 3779 and minute (2) wave at 3718. The minute (3) target area is 4003, where (3)=2.0(1). Minute (4) should retrace 23% to 3937 and minute (5)=(1) at 4080. Thus, the minor 1 wave should reach the 4086 pivot area. Note: The primary (white/green) count if valid above 3637.
  2. The alternate (red) count has been modified into a situation where the SP500 will produce an IT rally to 4200-4300 into year end 2022 and fall to new lows towards 3200 into year 2023 as a deeper recession unfolds. Major [A]-P2-C3 completed at 4637. Next a major [B]-P2 wave will retrace to the 50%/62% Fib at 4228 to 4370. Then a final major [C]-P2 wave will drop to the 62% Fib of P1 at 3190.

Have a great weekend !

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

SP-500 weekly chart:

SP500 Technical Analysis

One Response to “June 24th, 2022: SP-500 Chart Update”

  1. Michael Croghan said

    Spectacular call sir! I did not see many out in the media/twitter verse with any bullish calls for IT.

Sorry, the comment form is closed at this time.

%d bloggers like this: