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March 19th, 2021: SP-500 Chart Update

Posted by pugsma on March 19, 2021

11:45 am EST: The SP-500 opened flat from 3915, dipped to 3887, rallied to 3915…

Primary (white/green) count is that the minor 2 of major [5]-P1-C3 wave completed at 3387, which was the 38% Fib. The minor 3 wave target is at 1.62*minor 1 = 4310. The alternate (blue) count variation of the primary is that the minor 2 wave will drop to the 50%/62% Fib of 3854 to 3822 early next week. Note: Both the primary (white/green) and alternate (blue) wave count minor 2 wave remains valid above the major [4] low at 3723. Below 3723, the P1 top is confirmed at 3984 (alt red count labels on daily/weekly charts) with a 38% Fib retrace of P1 at 3303 for the P2 wave.

Have a great weekend !

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

8 Responses to “March 19th, 2021: SP-500 Chart Update”

  1. pugsma said

    Time to watch some college basketball and forget the markets until Monday.

    Have a great weekend all !

    • orion.colorado said

      Thanks for the update…checking in from Fruita, CO. Hotspot service rocks. Transitioned out here last night to catch last few days of their spring break to do some mtn biking/hiking/etc…

  2. pugsma said

    Three ST positive indicators with a red SP500 close:

    1) NYSE A-D line cumulative close up.

    2) NYMO closed up.

    3) VIX closed down.

  3. pugsma said

    I had not turned on my work computer since Friday mid-day. I just opened it up and saw my SP500 5-min chart from Friday morning and how it ended Friday afternoon (see chart below). Wow, did the SP-500 follow the lines to the penny. The SP500 will need to break above that dark purple upper line (at 3925 at today’s open) in order to get moving higher.

    https://pugsma.com/wp-content/uploads/2021/03/PUG-SP-500-5-min-3-19-21-EOD.jpg

  4. pugsma said

    TSLA 60-min, daily and weekly charts updated 3-22-21 in the 2021 CCA.

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