December 1st, 2021: SP-500 Chart Update
Posted by pugsma on December 1, 2021
6:25 pm EST: The SP-500 gapped up from 4568 to 4602, rose to hit 4653, then fell all day to close on the low at 4511.
The primary (white/green) count is that minor 2 of major [5]-P1-C3 will play out as a 3-3-3 double zig-zag. The first minute (w) zig-zag or minor 2 ended at 4585 on the drop from the minor 1 high at 4743 . The connecting minute (x) wave retraced to 4673 between the 50%/62% Fibs of 4664/4682. Now the minute (y) has dropped to a new low below the minute (w) low of 4585, with targets at (y)=(w)=4515 (white/green) to (y)=1.38(w)=4455 (blue). The typical 50%/50% Fib retrace area for minor 2 is at 4511/4454. Note: The primary (white/green) count remains valid above 4279, the major [4] low.
SP-500 15-min chart:
SP-500 60-min chart:
SP-500 4-hour chart:
SP-500 daily chart:
SP-500 weekly chart:
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