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November 18th, 2021: SP-500 Chart Update

Posted by pugsma on November 18, 2021

12:35 pm EST: The SP-500 gapped up from 4689 to 4700, quickly hit 4703, dropped to 4673 and rose steadily all day to 4705…

The primary (white/green) count is that minute (3) of minor 1 of major [5]-P1-C3 completed at 4719 and the minute (4) wave retraced to the 23% Fib target of 4630. However, minute wave (4) needs to buy more time, then wave (4) could also from an ascending triangle here with 4630 as the a-(4) low, b-(4) at 4715, c-(4) at the 4673, d-(4) at 4719 and e-(4) at the 4690 area. Assuming minute (4) completed at 4630, as a simple zig-zag, the minute (5) wave is underway and headed for the (5)=(1) target at 4781 to complete minor 1 of major [5]-P1. Note: The primary (white/green) count as labeled for minute (5) headed to 4781 remains valid above the minute (4) low at 4630.

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

10 Responses to “November 18th, 2021: SP-500 Chart Update”

  1. pugsma said

    I just updated GBTC (BTC Proxy) in the 2021 CCA Service.

  2. pugsma said

    There is the chance the NYMO will close below -40 and below the lower BB for a 2nd straight day.

    This is an extremely rare SP500 Buy trigger scenario and has the potential to lead to BIG move higher for the SP500 the next day.


  3. William Waggoner said

    On the $NYMO if it closes below -40 today does that qualify for the likely large move up on the 3rd day or do both consecutive closes below BB need to be below -40?

  4. MS53 said

    Daily hammer candle in the works.

  5. orion.colorado said

    Wrt to the mid Jul and mid May bottoms mentioned above, $CPC seems like it was much higher then. Any significance?

    Note: I am always on the look out for great NYMO set ups, which we are in the midst of now, just paying more attention to $CPC now and wondering if the two stitch together at all.

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