SP-500 15-min chart:

SP-500 60-min chart:

SP-500 4-hr chart:

SP-500 daily chart:

11:15 am EST: The SP-500 opened flat from 4613, then rose steadily to 4631…

The primary (white/green) count is that the minor 1 of major [5]-P1 is underway and near completion from the major [4]-P1 low at 4279. Minute (1) of minor 1 completed at 4430. Minute (2) competed at 4330, just below the 62% Fib of 4335. The minute (3) completed at 4599, just above (3)=1.62(1) at 4575. Minute (4) pulled back to 4552, just above the 23% Fib at 4537. Minute (4) can also be viewed as an ascending triangle that completed at 4589 and targets 4646. The minute (5) wave is underway and should rise to the (5)=0.62(1) target at 4646 or the (5)=(1) target at 4703. Once the minor 1 wave complete, there should be a 2% to 3% pull-back for the minor 2 to the 38%/50% Fib (4507/4463 basis minor completing at 4646).  Note: The primary (white/green) wave count remains as labeled remains valid above the minute (4) of minor 1 low of 4552. Breaking below 4552, will mean that minor 1 topped and the minor 2 wave pull-back is underway.

The alternate (blue) count has minor 1 of major [5]-P1-C3 completed at 4430 and minor 2 complete at 4330. The minor 3 wave is underway and nearing completion that should target the minor 3 = 2.0*minor 1 at 4632. The minor 4 wave should retrace to the 23%/38% Fib at 4563/4517. Finally the minor 5=1 target is 4663/4714 and the major [5]=0.5[1] target is at 4800. Note: The alternate (blue) wave count for a minor 4 correction remains valid above the minor 1 high of 4430.

SP-500 15-min chart:

SP-500 60-min chart:

SP-500 4-hr chart:

SP-500 daily chart:

4:25 pm EST: The SP-500 gapped down from 4595 to 4574, quickly hit 4568, then reversed and rose all day to close near the high (4608) at 4605.

Typical Indicators:

$CPC (CBOE Options Total Put/Call Ratio): When the $CPC reaches the 0.65 to 0.60 area, the $SPX tends to trade sideway (green) or have a significant correction (red). My $SPX wave count reflects this stall or drop during November before a strong December. My technical analysis agrees with possible run up to 4646 in early November. Then a stall or drop to hold around the 4526 to 4507 area before a move up to 4800 by year end 2021.

NYSE A-D Line Cumulative: Is showing a -DIV wrt the $SPX price highs of 4599 on Tuesday, Oct 25th vs 4608 on Friday, October 4608.

The primary (white/green) count is that the minor 1 of major [5]-P1 is underway and near completion from the major [4]-P1 low at 4279. Minute (1) of minor 1 completed at 4430. Minute (2) competed at 4330, just below the 62% Fib of 4335. The minute (3) completed at 4599, just above (3)=1.62(1) at 4575. Minute (4) pulled back to 4552, just above the 23% Fib at 4537. Minute (4) can also be viewed as an ascending triangle that completed today 4589 and targets 4646. The minute (5) wave is underway and should rise to the (5)=0.62(1) target at 4646. Note: The primary (white/green) wave count remains as labeled remains valid above the minute (4) of minor 1 low of 4552. Breaking below 4552, will mean that minor 1 topped and the minor 2 wave pull-back is underway.

The alternate (blue) count has minor 1 of major [5]-P1-C3 completed at 4430 and minor 2 complete at 4330. The minor 3 wave is underway and nearing completion that should target the minor 3 = 2.0*minor 1 at 4632. The minor 4 wave should retrace to the 38% Fib at 4526. Finally the minor 5=1 target is 4677 and the major [5]=0.5[1] target is at 4800. Note: The alternate (blue) wave count for a minor 4 correction remains valid above the minor 1 high of 4430.

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:

SP-500 monthly chart:

5:00 pm EST: The SP-500 gapped up from 4552 to 4562, rose to 4593, traded sideways and closed on the high at 4596 (new all-time closing high).

SP-500 15-min chart:

SP-500 60-min chart:

SP-500 4-hr chart:

SP-500 daily chart:

4:40 pm EST: The SP-500 opened flat from 4574, rose to 4584 and dropped to close at 4552.

SP-500 15-min chart:

SP-500 60-min chart:

SP-500 4-hr chart:

SP-500 daily chart:

5:40 pm EST: The SP-500 gapped up from 4544 to 4554, dropped quickly to hit 4537, then rose to a new all-time high at 4572 and closed at 4566 (new all-time closing high).

The primary (white/green) count is that the first minor 1 wave up from major [5]-P1 is underway and will target above the all-time high of 4546. Minute (1) of minor 1 completed at 4430. Minute (2) competed at 4330, just below the 62% Fib of 4335. The minute (3) completed at 4560, just below (3)=1.62(1) at 4575. Minute (4) pull-back to 4524, just above the 23% Fib at 4507. The minute (5) wave is underway and should rise to the (5)=(1) target at 4675. Note: The primary (white/green) wave count remains as labeled remains valid above the minute (4) of minor 1 low of 4524. Breaking below 4524, will mean that the minor 2 wave pull-back is underway.

The alternate (blue) count has minor 1 of major [5]-P1-C3 completed at 4430 and minor 2 complete at 4330. The minor 3 wave is underway that should target the minor 3 = 2.0*minor 1 at 4632. The minor 4 wave should retrace to the 23% Fib at 4562. Finally the minor 5=1 target is 4713 and the major [5]=0.5[1] target is at 4800. Note: The alternate (blue) wave count remains valid above the minor 1 high of 4430.

SP-500 15-min chart:

SP-500 60-min chart:

SP-500 4-hr chart:

SP-500 daily chart:

3:20 pm EST: The SP-500 gapped down from 4550 to 4546, dropped quickly to hit 4542, rose to a new all-time high at 4560, dropped a days low at 4524 and rose to 4554…

The primary (white/green) count is that the first minor 1 wave up from major [5]-P1 is underway and will target above the all-time high of 4546. Minute (1) of minor 1 completed at 4430. Minute (2) competed at 4330, just below the 62% Fib of 4335. The minute (3) completed at 4560, just below (3)=1.62(1) at 4575. Minute (4) should pull-back to the 23%/38% Fib at 4507/4473 and minute (5) should rise the (5)=(1) target at 4623/4675. Note: The primary (white/green) wave count remains as labeled remains valid for minute (4) of minor 1 above the minute (1) of minor 1 high at 4430.

The alternate (blue) count has minor 1 of major [5]-P1-C3 ending here at 4560 and minor 2 pull-back to the 38%/50% Fib retracement at 4447 to 4417. Note: The alternate (blue) wave count remains valid above the major [4]-P1 low at 4279.

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:

11:20 am EST: The SP-500 gapped up from 4363 to 4387, rose quickly to hit 4426…

Market Technical Analysis Notes:

1. Then NYMO closed a +23 on Wed October 13th. This is first close above the key +20 level since the major [4] correction began from the Major [3] peak at 4546 in early September.
2. The NYMO set a +DIV at the major [4] 4279 low in early October.
3. The down-channel upper trend-line from 4565 has been broke with today’s move up to 4426. Also, a new higher, higher was made above 4416.
4. The NYSE A-D Cumulative set a +DIV at the 4279 major [4] low and is near an all-time high today intra-day. When this indicator makes a new all-time high before the SP500, the SP500 will follow to a new all-time.

The primary (white/green) count is that major [4]-P1-C3 bottomed at 4279. The first minor 1 wave up from major [5]-P1 is underway and should target the all-time high above 4546. Minute (1) of minor 1 completed at 4430. Minute (2) competed at 4330, just below the 62% Fib of 4335. The minute (3) target is (3)=1.62(1) at 4575. Minute (4) should pull-back to the 23%/38% Fib at 4519/4482 and minute (5) should rise the (5)=(1) target at 4630/4670. Note: The primary (white/green) wave count remains as labeled remains valid above the major [4] low at 4279.

House Keeping: I’m headed out of town to Vegas for my 55th Birthday weekend. I will return late on the evening on Thursday, Oct 21st. The next blog post will be Friday, Oct 22nd. I will keep an eye on the markets and make comments as I feel necessary while I’m away.

Have a great weekend and next week !!!

SP-500 15-min chart:

SP-500 60-min chart:

SP-500 4-hr chart:

SP-500 daily chart:

SP-500 weekly chart:

11:00 am EST: The SP-500 gapped down from 4391 to 4387, quickly hit 4384 and reversed higher to 4416…

SP-500 15-min chart:

SP-500 60-min chart:

SP500 4-hr chart:

SP-500 daily chart: