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October 23rd, 2018: SP-500 Chart Update

Posted by pugsma on October 23, 2018

3:55 pm EST:   As expected per the primary (red) wave count a new low for major [1]-PA-C2 below 2711 was made today at 2691.   This could be it or one more slightly lower low above the 2658 pivot is still possible.  A break above 2755, will confirm the low is in place and significant rally is underway for the major [2] wave to at least 2816 to 2846, 50%/62% Fibonacci retracement of major [1].

The alternate (blue) count still is possible with the minor 2 of major [5]-P5-C1 low being at 2691.   A significant rally for wave minor 3 is next up, headed above 2941. This alternate (blue) count is valid above the major [4] low at 2595.

SP-500 15-min chart real-time link:  http://www.freestockcharts.com?emailChartID=45da7085-93ef-4032-ab80-2fc8be2e39c4

SP-500 15-min chart:

SP500 Technical Analysis

SP-500 60-min chart:

SP500 Technical Analysis

SP-500 4-hr chart:

SP500 Technical Analysis

 

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