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    SCI-SCV, SCA-SCC: Super Cycle
    C1-C5, CA-CC :Cycle
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April 5th, 2021: SP-500 Chart Update

Posted by pugsma on April 5, 2021

12:20 pm EST: The SP-500 gapped up from 4019 to 4034, and rallied to 4079…

Market Technical Notes: 

  1. NYMO: The NYMO intra-day is up from +23 to near +30.  Multiple NYMO closes above +20 would confirm the primary (white/green) count minor 3 of major [5] wave higher. 
  2. VIX: The VIX intra-day is up +4.1% at 18.05.  A string of VIX closes below 20 would be indicative of a potential grinding minor 3 of of major [5] wave higher per the primary (white/green) count.
  3. Chart PatternPotential Bull Flag between 3985 and 3854 with a target of 4114.
  4. NYSE A-D Line Cumulative: The A-D line intra-day is at an all-time new high confirming the move higher in the SP-500.

Seasonality: Aligns with a minor 2 of major [5] low at 3854 the end of March and big rally for minor 3 of major [5] into the end of May, then a minor 4 pull-back in June and finally another rally for minor 5 of major [5] into August.

SP500 Seasonality

The primary (white/green) wave count is that minor 2 of major [5]-P1-C3 wave completed at 3854, which was a precise 50% Fibonacci retracement. The minor 3 wave up is just getting started with a target of 2.62*minor at 4538. Within the minor 3 wave, the minute (1) should quickly target the 4114 area (bull flag target). The minute (2) pull-back will likely be shallow at the 38% Fib of 4015. The minute (3)=1.62(1) target is at 4436 The major [5]=[1] target for the completion of P1 is at 4764. Note: The primary (white/green) count as labeled remains valid above the 3854 low.

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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