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May 24th, 2021: SP-500 Chart Update

Posted by pugsma on May 24, 2021

1:05 pm EST: The SP-500 gapped up from 4156 to 4170, then rallied to 4203…

The primary (white/green) wave count is that major [4]-P1-C3 ended at 4057 and played out as an expanded flat wave from mid-April to mid-May. This major [4] wave flat alternates with the major [2] zig-zag from June 2020. The major [5] wave up began from 4057 and the major [5]=0.50[1] target is at 4578. Within the major [5] wave, minor 1 wave completed at 4183 and the minor 2 was a deep retrace to 4061. The minor 3 wave up is underway with target at 4391, where minor 3 = 2.62*minor.  Note: The primary (white/green) wave count remains valid above the major [4] low at 4057.

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

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