December 9th, 2022: SP-500 Chart Update
Posted by pugsma on December 9, 2022
6:10 pm EST: The SP-500 gapped down from 3963 to 3955, quickly hit 3944, rose to 39377 (day’s high), then fell to close on the low at 3934.
Technical Analysis: Print SharpCharts from StockCharts.com
Wave Counts:
- The primary (white/green) count is that minor 1 of major [1]-P3-C3 was the move up to 3912 from the P2-C3 low at 3492. The minor 2 wave retraced to the 50% Fib of minor 1 at 3698. The minor 3 wave up is underway with an initial target of M3=1.62M1 at 4378. Within minor 3, the minute (1) wave reached 4029. The minute (2) wave is playing out as a flat and may have completed at 3918 near the 50% Fib of 3899 or maybe need to reach the 62% Fib at 3851. Assuming minute (2) is complete at 3918, the wave minute (3) target is at 4325, where (3)=1.23(1). Note: The primary (white/green) count is valid above the minor 2 low at 3698.
- The alternate (blue) count is the completion of minor 1 of major [1]-P3-C3 as a leading diagonal at 4100, where minute (5)>(3)>(1). The minor 2 wave targets are at the 50%/62% Fibs at 3796/3726. Within minor 2, minute (a) looks to have completed at 3918 and minute (b) bounced to the 38% Fib at 3987. The minute (c) of minor 2 is underway and will drop below 3918 towards the 3796/3726 target at area. Note: The alternate (blue) count is valid above the P2 low at 3492.
House Keeping: I have opened the enrollment for the 2023 Quarterly and Annual Premium Service: https://pugsma.com/2022/12/01/december-1st-2022-sign-up-for-2023-quarterly-or-annual-premium-service/#respond
A few notes:
- Pricing for 2023 remains the same as 2022. (0% inflation!)
- Discounted Annual Subscriptions (14% savings vs Quarterly) are only available during December each calendar year.
- I have decided to roll the Custom Chart Archive Service back into the Premium Service. Thus, the custom stock charts that I chose on my own to complete will be available to all Premium Service subscribers. This is bonus for 2023 at the same Premium Service price.
- I have kept the Custom Chart Technical Analysis Service for those that want to order personalized custom charts for a stock that they request.
Thank you for your business and support during 2022 and for many of you since the beginning in year 2009. I really appreciate all the informative and encouraging comments towards my TA work over the years. It’s been a great community of investors/traders here at PUG SMA.
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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