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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

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