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December 17th, 2018: SP-500 Chart Update

Posted by pugsma on December 17, 2018

4:40 pm EST:  The SP-500 price dropped to 2530 and tested the Feb 9th, 2018 low at 2533.

The red count is in a wave minor 3 of major [3]-PA-C2 move lower to the minor 3 = 1.62*minor 1 target of 2333.

The blue count is completing a simple minor A-B-C Zig-Zag for major [4]-P5-C1 from 2941 to targets are C=0.88A=2518 to C=A=2478.

SP-500 15-min chart real-time link:  http://www.freestockcharts.com?emailChartID=e1d73b95-74f3-4913-9418-db102757bc5d

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

36 Responses to “December 17th, 2018: SP-500 Chart Update”

  1. thanks Steve
    red still primary?

    • pugsma said

      The red count has been the primary wave path shown since the drop top 2604 in Feb, rise to 2941 and now fall to 2531.

      At this point the blue count is on equal footing with the red for one more rise to 3000.

  2. rat8nine said

    spy daily – price at the median line, magenta line is where the rt of the move from 249.66 – 293.22 = .886 at 254.63

  3. lauter1 said

    Some charts at this very interesting area:
    – Put/call ratio very high: https://stockcharts.com/h-sc/ui?s=%24cpce
    – COMP daily: http://www.screencast.com/t/H553eHW0n
    – NYAD outside bb band: http://stockcharts.com/h-sc/ui?s=%24NYAD&p=D&b=5&g=0&id=p20872427094&a=408155735&r=1433946421121&cmd=print
    (as well as VIX and NYMO and major indicies)
    – Credit to Kazoom (I believe?) for this chart? https://stockcharts.com/h-sc/ui?s=%24SPX&p=D&yr=1&mn=0&dy=0&id=p04264195419&a=238140538
    – First time in quite a while SPY showing any buying on weakness: http://www.wsj.com/mdc/public/page/2_3022-mfgppl-moneyflow.html

  4. kazoom1618 said

    AMZN daily – if we turn here, a well-weighted IHS – target $2143:

    https://stockcharts.com/h-sc/ui?s=AMZN&p=D&b=5&g=0&id=p4336268304c&a=369491944&r=1545142587167

  5. chrys50 said

    Harmonics are still point up to a new ATH.

    $SPX.X - Harmonic - Dec-18 1302 PM (1 day).png

  6. pugsma said

    For the Blue Wave count: How did you like my wave (4) and (5) new low today. 🙂

  7. pugsma said

    House Keeping: Internet is down at home, so no update tonight. The blue count after a wave (4) to 2574, completed its required wave (5) lower low at 2529 today. Could it go lower to 2518 or 2478, yes. Break above 2574, to confirm the bottom of minor C of major [4]-P5.

  8. rat8nine said

    Steve, if I’m following this correctly, we did not see a valid vix buy signal, and as far as I can tell, nymo has not closed below its bb in this move. Does that indicate anything to you at this juncture?

  9. rat8nine said

    fb 60

  10. rat8nine said

    c daily

  11. rat8nine said

    qqq at an inflection point

  12. rat8nine said

    amzn right in the retest area here between 1496 – 1461

  13. pugsma said

    VIX Sell, SPX Buy triggered step 1 at the close. Red VIX tomorrow for final confirming step 2.

    NYMO and SPX both closed below their respective BB, resetting their SPX Buy triggers.

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