SCI-SCV, SCA-SCC: Super Cycle
C1-C5, CA-CC :Cycle
P1-P5, PA-PC : Primary
[1]-[5], [A]-[C] : Major
1-5, A-C : Minor
(1)-(5), (a)-(c) : Minute
i-v, a-b : Minuette
Primary Count:
White/Green (Bull Market)
White/Red (Bear Market)
Alternate Count: Blue
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Posted by pugsma on March 17, 2021
4:25 pm EST: The SP-500 gapped down from 3963 to 3950, hit a low at 3936, rose to a new all-time high at 3984 and closed a new all-time closing high of 3974.
SP-500 15-min chart:
SP-500 60-mim chart:
SP-500 4-hr chart:
SP-500 daily chart:
This entry was posted on March 17, 2021 at 4:24 pm and is filed under Premium, SP-500. Tagged: Elliott Wave Technical Analysis, SP500. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.
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pugsma said
Wave (4) could become a triangle between 3936 and 3984.
Partagas said
Got it, thanks.
pugsma said
Also, IWM and QQQ have both already corrected -3.0% and -2.7% from their respective recent highs.
Partagas said
Might the Quad witching that is putting distortion. I am looking for mid 4000s next week. I am not convinced we have seen the short-term high yet.
lauter1 said
QQQ currently showing a possible 3 wave move into 315 on 15 min chart
Denali92 said
Hi!
I just checked the data on large down days on the day before option expiry. There have been 37 Thursdays before opex Friday that have been down 1.2% or more. This is 13% of all option expiry periods. There is NO EDGE in the data. There are lots of bottoms, but also quite a lot of early opex week tops. (Like the Sept-20 Opex Wednesday top that resulted in a 6.8% decline in to the fall low.)
The really severe falls did see bottoms on Opex Day (nov-08 down 8.0% the day before) or the Monday post opex (Aug 2011 down 4.5%), but in these instances, the market had been declining for some time and the SPX was near its lower weekly bollo.
I could not see anything in the data that showed declines from all time highs or weekly highs that might provide an edge.
-D