February 11th, 2022: SP-500 Chart Update
Posted by pugsma on February 11, 2022
2-11-22, 3:40 pm EST: The opened flat from 4503, quickly hit 4526 (day’s high) shortly after the open, then fell steadily the rest of the day to 4406…
Technical Indicators: See this SP500 vs NYMO vs VIX Chart Link: Print SharpCharts from StockCharts.com
Wave Count Options: The primary (white/green) count is 50% probable, and the alternate (blue) count is 50% probable. Note: A close today below 4451, would make the alternate (blue) count more probable.
- The primary (white/green) wave count is that P1-C3 topped at 4744 in late November and the P2-C3 wave played out as 3-3-5 expanded flat wave to the 23% Fib retrace of P1 at 4223. The P3-C3 wave is just in its very early stages and the first minor 1 of major [1]-P3-C3 wave reaching 4595. The minor 2 of major [1] wave is playing out as a zig-zig to the 50% Fib retrace area at 4409. Minute (a) of minor 2 ended at 4451, minute (b) retraced 4590 and now minute (c) will target 4412, where (c)=1.23(a). Note: This primary (white/green) wave count is valid for minor 2 of major [1]-P3 above the 4223 P2 low is confirmed on a break above 4595.
- The alternate (blue) wave count variant of the primary, is that the minor 2 wave will reach lower to the 62%/78% Fib retrace area of 4364/4305. There is a (c)=1.62(a) target at 4358 and (c)=2.0(a) target at 4302. Also, with today’s break below 4451, there is double top in place at 4595/4590 with a measured move target at 4307. Note: This primary (blue) wave count is valid for minor 2 of major [1]-P3 above the 4223 P2 low is confirmed on a break above 4595.
Have a great weekend !
SP-500 15-min chart:
SP-500 60-min chart:
SP-500 4-hr chart:
SP-500 daily chart:
SP-500 weekly chart:
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