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October 24th, 2018: SP-500 Chart Update

Posted by pugsma on October 24, 2018

5:15 pm EST:   The SP-500 moved lower than 2791 today (hit 2652) has predicted by the primary (red) wave count.  The major [1]-PA-C1 bottom here at the 2652 should be near.   A major [2] wave with a 62% Fib retrace to 2840 should be next.

The alternate (blue) wave count is looking for minor 2 of major [5]-P5-C1 low at the between the 78% Fib of 2671 and the 88% Fib at 2676.  This alternate (blue) count remains valid above the  major [4] low of 2595.

SP-500 15-min chart real-time link:  http://www.freestockcharts.com?emailChartID=e0694fbf-6349-4e92-9fa1-2a90af24e493

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

11 Responses to “October 24th, 2018: SP-500 Chart Update”

  1. pugsma said

    Potential Large Positive Divergence on $NYMO (Market Breadth) vs SP-500 Price, which is bullish for SP-500 price action.

    Also, Potential Negative Divergence on VIX, which is also bullish for SP-500 price action.

    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. Slvtore. McCormicK said

    The close above 2759 pivot level remains like the bottom is in confirmation level sir? Thanks….

  3. pugsma said

    Cobra stats say SPX down 6 days in a row (like yesterday), then 8 of 10 (80%) lower low ahead since year 2008.

  4. kazoom1618 said

    SPX 60min – broke the first red downtrend – 2 more to go…

    http://schrts.co/28NMEV

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