PUG Stock Market Analysis, LLC | Technical Analysis Blog

PUG Stock Market Analysis is here to help with SP500, QQQ, IWM, Gold technical analysis, stock analysis and more.

December 14th, 2021: SP-500 Chart Update

Posted by pugsma on December 14, 2021

5:55 pm EST: The SP-500 gapped down from 4668 to 4643, dropped to a days low a 4606, rallied to 4647 and closed at 4634

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 minute (1) of minor 3 wave completed at 4713. The minute (2) or minor 3 wave is underway and likely end today at the 50% Fib at 4605. Once minute (2) completes, wave minute (3) of minor 3 should break above 4743 head toward 4959, where (3)=1.62(1). Note: The primary (white/green) count for minor 3 of major [5] remains valid above the minor 2 low 4495 and is confirmed on a break above 4743.

The alternate (blue) count is major [3]-P5-C3 peaked 4743 and a major [4] wave is currently unfolding. The drop from 4743 to 4495 was minor A of major [4] and move up from 4495 to 4713 was minor B of major [4]. Next the minor C wave should target C=1.62A at 4311, which is the 23% Fib retrace for major [4] at 4334. Note: The alternate (blue) count is valid below 4743 and is confirmed on a break below 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

Sorry, the comment form is closed at this time.

 
%d bloggers like this: