PUG Stock Market Analysis, LLC | Technical Analysis Blog

PUG Stock Market Analysis is here to help with SP500, QQQ, IWM, Gold technical analysis, stock analysis and more.

September 22nd, 2021: SP-500 Chart Update

Posted by pugsma on September 22, 2021

11:30 am EST: The SP-500 gapped up from 4454 to 4467, rose steadily to 4400…

The primary (green) count is that minor 1 of major [5]-P1-C3 topped at 4546. The drop to 4306 was a minor 2 wave that retraced to the 50% Fib of 4302. The minor 3 wave up is underway, to a first target area a 4907, where minor 3 = 1.23*minor 1. Within, minor 3, the first minor (1) wave is likely headed for the 4546 pivot area (see 15-mini chart for details of the minute (1) wave).  Note: The primary (green) wave count remains valid above the minor 2 wave low at 4306.

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 target at C=2.62A at 4199. Within minor C, minute (2) completed at 4306, the minute (2) target is the 50%/62% Fibs are 4398/4417. Once minute (2) completes, the minute (3) wave of minor C will break the 4306 low.  Note: The alternate (blue) wave count remains valid below the 4546 pivot.

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

SP-500 monthly chart:

SP500 Technical Analysis

Sorry, the comment form is closed at this time.

 
%d bloggers like this: