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October 16th, 2018: SP-500 Chart Update

Posted by pugsma on October 16, 2018

4:50 pm EST:   No changes to the respective wave counts.  Primary (red) count should make an new low below 2710 before a larger rally.   Alternate (blue) count looks to have found the minor 2 low at 2710 and is now in a minor 3 wave impulse to new all-time highs.

SP-500 15-min chart real-time link:

SP-500 15-min chart:

SP500 Technical Analysis

SP-500 60-min chart:

SP500 Technical Analysis

SP-500 4-hr chart:

SP500 Technical Analysis



7 Responses to “October 16th, 2018: SP-500 Chart Update”

  1. pugsma said

    Alt (blue) related evidence…

  2. pugsma said

    House Keeping: today’s SPX price movement did nothing to change the wave counts. No update tonight.

  3. Rodney Mruk said

    It appears to me that NYMO is in the ‘danger zone’ between -40 and 0. As I understand it, the current rally must clear 0 or it may be in trouble.

  4. Traucote said

    Something to keep an eye, There is a negative divergence between the RSI(27) and SP500 prices in the 15 min chart. Not as strong as the positive divergence that developed between the close on 10/10 and 3:00 pm 10/11.

  5. rat8nine said

    We know that nymo closed yesterday in the -20 to 0 crash zone after coming up from oversold, where the first day close back above its lower bb was not accompanied by spx also closing within its lower bb. We also know that opex week has a habit of making sharp trending moves into Thursday and Friday. So today was a lookout day for a nymo push over 0 to support an up move, or rolloff of the wave 4 bounce. Fascinating stuff.

  6. droc14 said

    so far there has been a ~58% retracement from the 2711 low to the 2816 recent high.

  7. chrys50 said

    I see 5 waves up and 3 waves down from the 2710 low. Is this Blue? Is there any internals pointing to this?

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