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December 24th, 2018: SP-500 Chart Update

Posted by pugsma on December 24, 2018

2:10 pm EST:   The SP-500 dropped to the weekly 200-day SMA at 2351 and is in the area of the long-term uptrend support on the weekly chart.   The primary (red) PW-C2 wave should be ending here are soon, which should be followed by a PX-C2 wave bounce to a 50%/62% Fibonacci retrace at 2646/2717.   From there the PY-C2 wave should drop to at least a 50% Fibonacci Retrace of the Cycle 1 (C1) wave bull market, which is at 1804.

Have a Merry Christmas !!!

SP-500 15-min chart real-time link:   http://www.freestockcharts.com?emailChartID=62d68e9f-8265-4f53-9bbe-e0fb5bbdd492

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

 

17 Responses to “December 24th, 2018: SP-500 Chart Update”

  1. pugsma said

    The really big down move in SPX price (PY-C2), happens after this next IT bounce (PX-C2).

  2. rat8nine said

    qqq daily – too nice and neat fib wise and median line wise?

  3. Jet Ski said

    Hi Steve, I’m curious if the red count variant posted in the Dec 19 update is still a possibility?

  4. vix sell spx buy trigger step 2 today possibility?

  5. pugsma said

    Major [A] of PX of C2 is clearly underway.

    Primary X (PX) will be 3 wave move up.

    Major [A] will contain 5 minor degree waves.

  6. pugsma said

    House Keeping: I’m currently on the road through Thursday afternoon. Next blog update will Thursday after the close.

  7. AnnieO said

    Steve is this a recalculation of the numbers on the charts? 2646 = 50% and 2747 = 62% Retrace?

  8. droc14 said

    SPX just completed an ABC correction of nearly 62% from the 2346 to 2467 move from the bottom.

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