September 20th, 2021: SP-500 Chart Update
Posted by pugsma on September 20, 2021
2:50 pm EST: The SP-500 gapped down from 4423 to 4402, dropped quickly to 4356, bounced to 4482 and continued dropping slowly to 4310…
The primary (green) count is that minor 3 of major [5]-P1-C3 topped at 4546. This drop to 4310 thus far is a minor 4 wave that must remain above the minor 1 high at 4257. Note: The primary (green) wave count remains valid above the minor 1 wave high at 4257.
The alternate (blue) wave count is that major [3]-P1-C3 topped at 4546 just above the major [3]=1.50[1] target of 4528 and now a major [4] wave correction to the 23% Fib retrace of major [3] at 4183. Note minor 5 of major [3] played out as an ending diagonal. For the major [4] wave, minor A completed at 4436. The minor B wave retraced to 4487, near the 50% Fib target of 4491. Next the minor C of major [4] wave down has targets are C = 1.62A at 4309 to C=2.62A at 4199. Note: The alternate (blue) wave count remains valid below the 4546 peak.
SP-500 15-min chart:
SP-500 60-min chart:
SP-500 4-hr chart:
SP-500 daily chart:
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