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December 28th, 2021: SP-500 Technical Analysis

Posted by pugsma on December 28, 2021

11:30 am EST: The SP-500 gapped up from 4791 to 4794, and climbed to 4807 and has traded sideway above the gap up…

Technical Conditions:

McClellan Oscillator: The NYMO closed at +50 Monday, the highest close of all of year 2021! Closes above +20 on the NYMO confirm an impulse bull wave higher (i.e. wave minute (3) of minor 3). NYMO Link: Print SharpCharts from StockCharts.com

Wave Count:

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 4531 between the 78%/88% Fib at 4542/4519. The minute (3) of minor 3 wave is underway with a (3)=2.62(1) at 5102. Within minute (3), wave i-(3) will likely target the top of the channel on the 60-min chart near 4839. Note: The primary (white/green) count for minute (3) of minor 3 of major [5] remains valid above the minute (2) of minor 3 low 4531 and is confirmed on a break above 4743.

House Keeping: I’ll be taking some time off during the Holiday Season to be with my family. Below is my schedule:

  • Tuesday, 12/28: Market is Open, updates.
  • Wednesday, 12/29, Market is Open, no updates (I’m traveling).
  • Thursday, 12/30, Market is Open, no updates (I’m traveling).
  • Friday, 12/31, Market is Open, no updates (I’m traveling).
  • Monday, 1/3, Market is Open, back to normal daily updates.

Sign-Up for Year 2022 Service: All existing customers received an e-mail on December 22nd explaining the year 2022 Services. If you didn’t receive the e-mail, check your spam folder. The PUG SMA Shop for purchasing services is here: » Shop PUG Stock Market Analysis, LLC | Technical Analysis Blog (pugsma.com) Note: Annual Premium Service is offered at a discount to Quarterly or Monthly Service only during the December time frame each year.

Have a Safe and Happy Holiday Season !

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

SP-500 weekly chart:

SP500 Technical Analysis

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