December 15th, 2021: SP-500 Chart Update
Posted by pugsma on December 15, 2021
5:05 pm EST: The SP-500 opened flat from 4634, slid down to 4611, traded sideways and then rallied into the end of the day hitting a high of 4712 and closed near the high at 4710.
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 completed at the 50% Fib at 4605. Wave minute (3) of minor 3 is underway and will break above 4743 headed 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 thus far is a minor B of major [4] wave that could target B=1.23A at 4800. Next the minor C wave should target C=1.62A at 4398, which is near the 23% Fib retrace for major [4] at 4334. Note: The alternate (blue) count is confirmed on a break below 4495.
SP-500 15-min chart:
SP-500 60-min chart:
SP-500 4-hr chart:
SP-500 daily chart:
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