November 22nd, 2021: SP-500 Chart Update
Posted by pugsma on November 22, 2021
1:25 pm EST: The SP-500 gapped up from 4698 to 4712, rose to a day’s high at 4743, then sold of quickly to 4701… 4698.
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. The minute (4) wave traced out an ascending triangle 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 4694. The wave (5)=(1) target is at 4781 to complete minor 1 of major [5]-P1. Also, the triangle target is at 4808. Note: The primary (white/green) count as labeled for minute (5) headed to 4781 remains valid above the wave e-(4) low at 4694.
The alternate (blue) count is that minor 1 of major [5]-P1-C3 completed at 4743 and a break below 4694 would confirm this. The minor 2 wave should retrace to at least a 38% Fib of the 4279 to 4743 move, which is at the 4546 pivot area.
SP-500 15-min chart:
SP-500 60-min chart:
SP-500 4-hr chart:
SP-500 daily chart:
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