December 27th, 2019: SP-500 Chart Update
Posted by pugsma on December 27, 2019
2:05 pm EST: Today the SP-500 price stretched slightly higher to 3248.
The primary (green) wave count is that major [5]-P5-C1 is playing out to the major [4] triangle target at 3253 to 3327. Within the major [5] wave up form the 2856 major [4] triangle low, we have minor 3 completed at 3154 and minor 4 at 3070. The minor 5 wave began from 3070 and is currently in a minute (3) wave with a target at 3257, where (3)=1.62(1). There should still be a minute (4) wave pull-back to the 23% Fib at 3214 and a final minute (5) push up above 3257 to complete the minor 5 of major [5]-P5-C1 cycle top. It will take a break below 3150 to begin to confirm the P5-C1 top.
The alternate (blue) wave count is major [3]-P5-C1 has been under way since the major [2] low at 2729 low. The minimum target for the major [3] wave termination is at the [3]=[1] = 3336 and of course it could extend much higher to a major [3]=1.62[1] target at 3712. This alternate (blue) count should continue higher for much of 2020 and maybe even into 2021 before reach the P5-C1 cycle top.
House Keeping: Year 2020 Subscription sign-up information was sent out via e-mail early in December. Simply make a payment via the link provided before the end of year 2019 to remain with the paid service during 2020. Note: the reduced annual subscription pricing is only available once per year during the December sign-up period.
SP-500 15-min chart:
SP-500 60-min chart:
SP-500 4-hr chart:
SP-500 daily chart:
SP-500 weekly chart:
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