October 14th, 2021: SP-500 Chart Update
Posted by pugsma on October 14, 2021
11:20 am EST: The SP-500 gapped up from 4363 to 4387, rose quickly to hit 4426…
Market Technical Analysis Notes:
- Then NYMO closed a +23 on Wed October 13th. This is first close above the key +20 level since the major [4] correction began from the Major [3] peak at 4546 in early September.
- The NYMO set a +DIV at the major [4] 4279 low in early October.
- The down-channel upper trend-line from 4565 has been broke with today’s move up to 4426. Also, a new higher, higher was made above 4416.
- The NYSE A-D Cumulative set a +DIV at the 4279 major [4] low and is near an all-time high today intra-day. When this indicator makes a new all-time high before the SP500, the SP500 will follow to a new all-time.
The primary (white/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 4330, just below the 62% Fib of 4335. The minute (3) target is (3)=1.62(1) at 4575. Minute (4) should pull-back to the 23%/38% Fib at 4519/4482 and minute (5) should rise the (5)=(1) target at 4630/4670. Note: The primary (white/green) wave count remains as labeled remains valid above the major [4] low at 4279.
House Keeping: I’m headed out of town to Vegas for my 55th Birthday weekend. I will return late on the evening on Thursday, Oct 21st. The next blog post will be Friday, Oct 22nd. I will keep an eye on the markets and make comments as I feel necessary while I’m away.
Have a great weekend and next week !!!
SP-500 15-min chart:
SP-500 60-min chart:
SP-500 4-hr chart:
SP-500 daily chart:
SP-500 weekly chart:
Sorry, the comment form is closed at this time.
You must be logged in to post a comment.