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December 31st, 2019: SP-500 Chart Update

Posted by pugsma on December 31, 2019

4:15 pm EST:   On the final trading day of year 2019, the SP-500 price dropped to 3212 and closed at 3230.

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.  Wave minute (3) reached 3248, near where (3)=1.62(1)=3257.  The Wave minute (4) wave pull-back likely ended today at 3212, just between the 23%/38% Fib target of 3220/3202.  The final minute (5) push up above 3248 is underway to complete the minor 5 of major [5]-P5-C1 cycle top.  Basis today’s low at 3212 the wave (5)=(1) target is at 3293.  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:  The markets are closed tomorrow, Jan 1st, 2020.  Year 2020 Subscription sign-up information was re-sent out via e-mail today December. 30th  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.

Wishing you and yours and safe and Happy New Year !!!

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

 

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