October 25th, 2021: SP-500 Chart Upate
Posted by pugsma on October 25, 2021
5:40 pm EST: The SP-500 gapped up from 4544 to 4554, dropped quickly to hit 4537, then rose to a new all-time high at 4572 and closed at 4566 (new all-time closing high).
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) pull-back to 4524, just above the 23% Fib at 4507. The minute (5) wave is underway and should rise to the (5)=(1) target at 4675. Note: The primary (white/green) wave count remains as labeled remains valid above the minute (4) of minor 1 low of 4524. Breaking below 4524, will mean that the minor 2 wave pull-back is underway.
The alternate (blue) count has minor 1 of major [5]-P1-C3 completed at 4430 and minor 2 complete at 4330. The minor 3 wave is underway that should target the minor 3 = 2.0*minor 1 at 4632. The minor 4 wave should retrace to the 23% Fib at 4562. Finally the minor 5=1 target is 4713 and the major [5]=0.5[1] target is at 4800. Note: The alternate (blue) wave count remains valid above the minor 1 high of 4430.
SP-500 15-min chart:
SP-500 60-min chart:
SP-500 4-hr chart:
SP-500 daily chart:
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