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October 13th, 2021: SP-500 Chart Update

Posted by pugsma on October 13, 2021

9:15 am EST: The SP-500 gapped up from 4361 to 4368, rose quickly to hit 4375, traded sideway, dipped to 4342 and closed at 4350.

The primary (green) count is that major [4]-P1-C3 bottomed at 4279. The first minor 1 wave up from major [5]-P1 is underway and should target the all-time high above 4546. Minute (1) of minor 1 completed at 4430. Minute (2) competed at 4342, just above the 62% Fib of 4335. The minute (3) target is (3)=1.62(1) at 4587. Minute (4) should pull-back to the 23%/38% Fib at 4540/4494 and minute (5) should rise the (5)=(1) target at 4681. Note: The primary (green) wave count remains as labeled remains valid above the major [4] low at 4279.

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. The major [4] wave correction towards the 23% Fib retrace of major [3] at 4183 is underway. For the major [4] wave, minor W completed at 4306. The minor X wave completed 4465, just above the 62% Fib retrace 4455. The minor Y of major [4] wave down is underway and has target at Y=W at 4225. Minute (a) of minor Y completed at 4289 and minute (b) is retracing to the 78%/88% Fib at 4424/4443. Once minute (b) completes, the minute (c) of minor Y down will be underway and will break below 4279.  Note: The alternate (blue) wave count remains as labeled remains valid below the minor X wave high of 4465.

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

22 Responses to “October 13th, 2021: SP-500 Chart Update”

  1. pugsma said

    NYSE A-D Line Cumulative vs SP500 has formed a +DIV

    https://twitter.com/walterdeemer/status/1448275571536973824?s=21

  2. pugsma said

    Hopefully you had “Patience Grasshopper” and prepared for the “all everything” rally.

    The Major [5]-P1 wave is going to blow the bears accounts up!

    • pugsma said

      Sticking with my call for 4465+ by my 55th B-Day (Sat Oct 16th).

      • pugsma said

        Seriously, who else makes a call like this?

        Only with my Elliott Wave based TA and using the key indicators (NYMO, NYSE A-D Cumulative, CPC) can this type of call be made and NOT be a wild guess!

      • pugsma said

        DJIA up +400 and only 300 points (less than 1%) from and all-time high.

        The NYSE A-D Line is very like going to close at an all-time high.

        Everything else will follow SPY, QQQ, IWM

        It’s so good to be long and be the King!

        • pugsma said

          NYSE A-D Line Cumulative looks to just missed closing at new all-time high. IWM big sell-off into the close stopped it.

  3. pugsma said

    The path forward…

    https://twitter.com/pugstockmarket/status/1448372129817407489?s=21

  4. pugsma said

    I have long-term portfolio positioned such that a had a 1% gain today with the SP500 up 0.3%.

    I have some really good balance now across my LT holdings, ready for major [5]-P1-C3.

    • pugsma said

      I’m down just -0.40% from my peak LT portfolio value tonight with the SP500 off -4.0%.

      Shows how using TA to chart corrections and re-balancing can be used to beat the market.

  5. pugsma said

    It Looks like the NYMO closed above the key +20 level today for the first time since the early Sept major [3]-P1 peak at 4546. We’ll know for sure at 6pm EST.

    Overall Market breadth strength is leading the SP500. Bullish.

  6. pugsma said

    The icing on my birthday cake would be BTC at a new all-time high above $65K on Saturday.

    I know all me CCA subscribers have made a small fortune on my GBTC chart updates.

    • pugsma said

      Jamie Dimon thinks BTC is worthless. He sounds like my 71 year old Boomer brother. He laughs at me, my two sons and my son in-law for mining and buying BTC.

      Seriously could the Boomers be any more clueless. The Gen X and Millennials have changed the game. The buy and hold BTC (and other crypto’s) like it’s Gold or Diamonds. Scarce items like Gold, Diamonds, and BTC are worth what society says they are worth. Society is moving to the prime time for Millennials and they highly covet BTC (crypto).

      Think about this: once most of the Boomers die and their Gold holdings have been turned over to their Gen X children and Millennial grandkids, they will likely sell that gold and buy more crypto! Image what happens to gold vs BTC prices then…

      https://amp.cnn.com/cnn/videos/business/2021/10/12/jamie-dimon-bitcoin.cnnbusiness

  7. pugsma said

    You’re Welcome!

    • Rodney said

      Thank you. Early happy birthday to you. Have a wonderful trip and heal well.

    • Russell Bailey said

      Thank you Steve! Let’s get to your 4465+ by the close tomorrow 🙂 Happy Birthday and Viva Las Vegas!

  8. pugsma said

    In the next few days the NYSE A-D Line Cumulative has a good chance to break-out to a new high well ahead of the SP500.

    When this signal happens it’s near a 100% probability the SP500 will follow to new all-time highs.

    https://stockcharts.com/h-sc/ui?s=%24NYAD&p=D&yr=0&mn=6&dy=0&id=p79963311521&a=386872354

  9. pugsma said

    Note: As the SP500 was dropping from 4416 to 4330, and I was maintaining my primary (white/green) count that the major [4]-P1 low was in place at 4279, I received several snarky comments that I filtered out so that the majority of my subscribers could focus on my primary technical analysis market call. It’s really get old to have do this.

    I’ve been doing this for 11+ years. I’m not always correct, but I do always present the my TA based analysis I see it without input form anyone else. I have my methods and they have worked very well.

  10. pugsma said

    FYI the move today above 4416 is the first higher, high the sP500 has made since the correction began from 4546 in early Sept.

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