January 2nd, 2022: SP-500 Chart Update
Posted by pugsma on January 2, 2022
5:15 pm EST: Here are the updated SP500 charts at the close of year 2021. The SP-500 closed at 4766 for the year, a gain of +1010 points (+26.9%) from the year 2020 close at 3756.
Technical Conditions:
McClellan Oscillator: The NYMO closed above +20 for the final 6 trading days 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; has reached 4809. Assuming wave i-(3) reaches, 4839, the wave ii-(3) pull-back should target the 38%/50% Fib at 4722 to 4686. 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.
SP-500 15-min chart, EOD 12-31-21:
SP-500 60-min chart, EOD 12-31-21:
SP-500 4-hr chart, EOD 12-31-21:
SP-500 daily chart, EOD 12-31-21:
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