March 22nd, 2021: SP-500 Chart Update
Posted by pugsma on March 22, 2021
5:25 pm EST: The SP-500 gapped up from 3912 to 3915, rose most of the day to a high of at 3955 and closed at 3940.
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. Note: The primary (white/green) wave count remains valid above the minor 2 low at 3887 and is confirmed on a break above 3984.
The alternate (blue) count variation of the primary is that the minor 2 wave is still on going and will drop to the 50%/62% Fib of 3854 to 3822. Note: The alternate (blue) count remains valid above the major [4]-P1 low at 3723 and becomes invalid above 3984.
For the alternate (red) wave count is that P1-C3 topped at 3984 and the P2 wave will target the 38% Fib retrace of P1 at 3303. Note: alternate (red) count is confirmed on a break of the major [4]-P1 low at 3723 and becomes invalid on a move above 3984.
SP-500 15-min chart:
SP-500 60-min chart:
SP-500 4-hr chart:
SP-500 daily chart:
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