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December 6th, 2018: SP-500 Chart Update

Posted by pugsma on December 6, 2018

2:40 pm EST:   SP-500 dropped to 2622 today, however the charts and wave counts still point higher going into the end of year.

SP-500 15-min chart real-time link:

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

13 Responses to “December 6th, 2018: SP-500 Chart Update”

  1. rat8nine said


  2. pugsma said

    Just an FYI. Today’s SPX price action fits much better with the alternate (blue) wave count. It’s at least on near equal footing (49/51 Probability) with the primary (red).

  3. pugsma said

    So the range is 2604 to 2815, which is 211 SPX points.

    When this range breaks, and it will, the simple pattern targets are:

    2604 – 211 = 2393 (primary red). Primary red should fake-out break-out up to 2833 first.

    2815 + 211 = 3026 (alternate blue).

  4. pugsma said

    Alternate (blue) wave count is predicting a no rate hike, full pause on Dec 19th and confirmation of tentative China Trade deal.

  5. pugsma said

    Primary red wave count is predicting December rate hike and collapse of the tentative China trade deal.

  6. pugsma said

    Both wave counts looking for a drift higher into Dec 19th Fed Decision.

  7. rat8nine said

    spy 15 – it’s interesting to note the symmetry between the two highs and the two lows, and the modified schiff median line set anchored at the .50 of the first move down caught the low at the lower line Thursday, coincidentally at where 259.85 – 281.22 = .886 at 262.29 (these can be seen on the 60 minute chart). The first rise failed at the .50 retrace of the move down this morning, and now is in the .786 area of the move off yesterday’s low.

  8. Steve, if we do a stop sweep reversal at 2604, does that just make this whole thing a wave 1 down from the top?

  9. Rodney Mruk said

    I hear the Zweig Breath Thrust Indicator flashed a buy signal. Can someone here confirm or refute that statement? The link here to the Indicator no longer works. Thanks in advance.

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