April 25th, 2022: SP-500 Chart Update
Posted by pugsma on April 25, 2022
1:20 pm EST: The SP-500 gapped up from 4272 to 4255, dropped to 4201 (day’s low), rose to 4245…
Technical Indicators: See the SP500 vs NYMO vs VIX Chart Link: Print SharpCharts from StockCharts.com
Wave Counts: The primary (white/green) count combination is 45% probable, and alternate (red) count is 55% probable.
- The primary (white/green) count is that P2-C3 bottomed at 4115. The major [1] of P3-C3 wave up is underway, but in the very early stages. The minor 1 of major [1] wave reached 4637. The large drop to 4201 was the minor 2 wave, that retraced to between the 78%/88% Fibs at 4230 to 4178. The minor 3 wave up is just getting underway. The minor 3 = 1.62*minor 1 target is 5047. Within minor 3, minute (1) should target the 4512. Note: The primary (white/green) wave count is valid above 4115.
- The alternate (red) count is that the P2-C3 wave down is still ongoing. Major [A]-P2 ended at 4115 and the major [B]-P2-C3 topped at 4637. Now the major [C]-P2 wave down is headed toward the 38% Fibonacci retrace of P1-C3 at 3821. Within major [C], the first minor 1 wave completed at 4370 and the minor 2 wave bounce hit 5212, just above 50% Fib at 4504. The minor 3 wave down is underway and should target 1.62*minor 1 target it at 4079. There is a major [C]=[A] target at 3933 to complete P2. Note: The alternate (red) count is valid below 4512.
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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