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October 30th, 2018: SP-500 Chart Update

Posted by pugsma on October 30, 2018

6:55 pm EST:  Today’s move up to 2682 has broken above the bullish falling wedge upper yellow trendline.  A higher, high above 2707 will indicate that 2604 is a key bottom per both wave counts and move up to at least the 2813 area (or much higher) is underway.

SP-500 60-min chart:

SP500 Technical Analysis

SP-500 4-hr chart:

SP500 Technical Analysis

4 Responses to “October 30th, 2018: SP-500 Chart Update”

  1. kazoom1618 said

    Hi Steve – your target is based on the wedge pattern? which has a 78% retrace? TIA.

  2. lauter1 said

    Thanks Pug. Although way too early to tell, the structure coming down to the wave four of previous degree might offer an interesting view for the Alt count. A couple observations for what they’re worth:

    SPX hourly: https://www.screencast.com/t/gbEfLbEbf
    DJI weekly: https://www.screencast.com/t/YduGvLANRW

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