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October 22nd, 2021: SP-500 Chart Update

Posted by pugsma on October 22, 2021

3:20 pm EST: The SP-500 gapped down from 4550 to 4546, dropped quickly to hit 4542, rose to a new all-time high at 4560, dropped a days low at 4524 and rose to 4554…

The primary (white/green) count is that the first minor 1 wave up from major [5]-P1 is underway and will target above the all-time high of 4546. Minute (1) of minor 1 completed at 4430. Minute (2) competed at 4330, just below the 62% Fib of 4335. The minute (3) completed at 4560, just below (3)=1.62(1) at 4575. Minute (4) should pull-back to the 23%/38% Fib at 4507/4473 and minute (5) should rise the (5)=(1) target at 4623/4675. Note: The primary (white/green) wave count remains as labeled remains valid for minute (4) of minor 1 above the minute (1) of minor 1 high at 4430.

The alternate (blue) count has minor 1 of major [5]-P1-C3 ending here at 4560 and minor 2 pull-back to the 38%/50% Fib retracement at 4447 to 4417. Note: The alternate (blue) wave count remains valid above the major [4]-P1 low at 4279.

Have a great weekend !!!

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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