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October 26th, 2018: SP-500 Chart Update

Posted by pugsma on October 26, 2018

6:30 pm EST:   Another new low today at 2628 and potential key bottom.   However, the 15-min chart down trendline has not been broken above and can not rule out a slightly lower low to 2597 pivot area.  Need a higher, high above 2692 to break the down trend.   See charts for wave count details assuming the 2628 low holds.

Have a great weekend !!!

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

SP-500 daily chart:

SP500 Technical Analysis

SP-500 weekly chart:

SP500 Technical Analysis

6 Responses to “October 26th, 2018: SP-500 Chart Update”

  1. rat8nine said

    spx 60 – the area in the green box is the .786 – .886 retrace area, and the purple median line of the primary set is pretty much at the bottom of the box. The thin line red set is a sliding parallel just above, aligned with the early october price violation above the upper line.

  2. rat8nine said

    amzn 60

    • rat8nine said

      amzn is a good illustration of using sliding parallels in median line work. The idea is that price is so impulsive that it jumps the trend line and goes up (down) to where the next parallel trend line would be. I found that taking a duplicate median line set and sliding it into position often catches those price extremes. So when you see the blue set up, it’s actually one set, with a duplicate set slid up one degree. That’s why you see four lines instead of three.

  3. MS53 said

    Could be a (1) (2), i, ii for blue alt ?

  4. rat8nine said

    spx 60 – with a lack of conviction, and nymo below 0, there is a potential washout setup for a move into the .786 – .886 zone from 2620 – 2579, shown in the green box…..

  5. hmeda said

    SPY Buying on Weakness (both Friday & today):

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