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December 8th, 2021: SP-500 Chart Update

Posted by pugsma on December 8, 2021

6:15 pm EST: The SP-500 opened flat from 4687, quickly hit 4698 then the days low at 4675, rallied the rest of the day to a high of 4705 and closed at 4701.

The primary (white/green) count is that minor 2 of major [5]-P1-C3 played out as a 3-3-3 double zig-zag that ended at 4495 and the minor 3 of major [5] wave up is underway towards 5000+. The first 5-wave move up from 4495 to 4612 completed wave i-(1) of minor 3. The wave ii-(1) was a shallow retrace 4588, followed by a wave iii-(1) up to 4694. Wave iv-(1) was a 23% Fib retrace to 4668. And now wave v-(1) is under that needs to end by iii=v at 4774 so that wave iii is not the shortest wave. Once minute (1) completes, there should be minute (2) retrace to the 38%/50% Fib area at 4658 to 4635. Note: The primary (white/green) count for minor 3 of major [5] remains valid above the minor 2 low 4495.

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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