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August 27th, 2018: SP-500 Technical Analysis

Posted by pugsma on August 27, 2018

3:00 pm EST:  Everything pointing to the major [5]=[1] P5-C1 top at 2917.   Wave (3) of minor 5 of major [5] underway from the wave (2) low at 2854. with at 2909 target, where (3)=0.78*(1).

SP-500 15-min chart real-time link:  http://www.freestockcharts.com?emailChartID=602ea8ea-c61a-4223-b4f4-dcf9e56de05f

SP-500 15-min chart:

SP500 Technical Analysis

SP-500 60-min chart:

SP500 Technical Analysis

SP-500 4-hr chart:

SP500 Technical Analysis

SP-500 daily chart:

SP500 Technical Analysis

7 Responses to “August 27th, 2018: SP-500 Technical Analysis”

  1. pugsma said

    Watch out for a -DIV on $NYMO vs SPX close today.

    http://stockcharts.com/h-sc/ui?s=%24NYAD&p=D&yr=0&mn=6&dy=0&id=p32152966307&a=269536931&r=1450045167343&cmd=print

  2. Pug, Should we ignore the triangle target at 3040? TY.

  3. JW said

    What technical indicators, if any, might give more support to the Alternate Blue scenario?

  4. hmeda said

    Put/Call Ratio: https://stockcharts.com/h-sc/ui?s=%24CPC&p=D&yr=0&mn=8&dy=0&id=t82260945804&a=615027447&r=1535420400874&cmd=print

    • John Morey said

      Thanks for the link to P/C ratios Hmeda.
      I have mapped the low points in purple circles on the SPX and find the 2nd, 3rd, 4th and 5th peaks map close to maximums, with falls occurring shortly after.

      This seems to be the exact opposite of the definition from Stockcharts :-
      Put/Call Ratio = Put Volume / Call Volume
      Put volume increases when the expectations for a decline increase. Conversely, call volume increases when the expectations for an advance increase. Sentiment reaches extremes when the Put/Call Ratio moves to relatively high or low levels.
      A Put/Call Ratio at its upper extremities would show excessive bearishness because put volume would be significantly higher than call volume. Excessive bearishness would argue for optimism and the possibility of a bullish reversal.

      I notice the Index name is $CPC total put/call ratio.
      Could CPC mean call/put ratio and that is what the graph actually is, which would then be consistent with the def’n ?
      An explanation of how this works will be appreciated.
      Cheers
      John

  5. rat8nine said

    spx 60 and 15

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