April 16th, 2021: SP-500 Chart Update
Posted by pugsma on April 16, 2021
8:25 am EST: The primary (white/green) wave count is that minor 3 of major [5]-P1-C3 is headed for the 4277 target, where minor 3=1.62*minor 1. There should then be a minor 4 of major [5] shallow pull-back to the 23% Fib at 4180 followed by minor 5 rally to the major [5]-P1 top at 4441, where minor 5=1 to 4535, where major [5]=0.78[1]. Ultimately, major [5] should reach the 4500 area in a late summer 2021 and can not exceed 4764 so as major [5]<[3], since major was [3]<[1].
The alternate (blue) wave count is that major [3]-P1-C3 is head for the major [3]=1.23[1] target at 4246. From there a major [4] pull-back to the 23%/38% Fib targets of 3951/3759 to be followed by a major [5] wave to a P1 top in the spring of 2022, where [5]=[1] at 4800 to 4992.
Have a great weekend !
SP-500 15-min chart:
SP-500 60-min chart:
SP-500 4-hr chart:
SP-500 daily chart:
SP-500 weekly chart:
SP-500 monthly chart:
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