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    SCI-SCV, SCA-SCC: Super Cycle
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September 28th, 2022: SP-500 Chart Update

Posted by pugsma on September 28, 2022

2:45 pm EST: The SP-500 opened flat from 3648, quickly dipped to 3640 (day’s low), then rose steadily to 3712…

Technical Analysis: Print SharpCharts from StockCharts.com

  1. $NYMO: Closed at -128 on Sept 26th and at -108 on Sept 27th. NYMO readings below -100 are extremely rare. They are seen during long-term bottoming processes.
  2. $VIX: Closed at 3 consecutive days above upper BB on Sept 24th, 26th and 27th. This has triggered the VIX Sell, SP500 Buy (needs a 2 step confirmation process: 1. VIX closed below it’s upper BB and then a red VIX close the next day).
  3. $SPX: Closed below its lower BB on Sept 26th, then back above its lower BB on Sept 27th. This confirmed the SP500 BB based, SP500 Buy Signal.
  4. $NYAD: Closed on Sept 26th and Sept 27th lower making a new low below the June 2022 low.

Wave Counts:

  1. The primary (white/green) count is P2-C3 playing out as a triple Zig-Zag major [W]-[X]-[Y]-[X]-[Z], with the final (third) zig-zag major [Z] complete at the major [Z]=[W] target of 3622. The initial target for minor 1 of major [1]-P3-C3 is at the 3950 pivot area. Note: The primary (white/green) wave count is valid above 3623.
  2. The alternate (blue) count is P2-C3 playing out as a triple Zig-Zag major [W]-[X]-[Y]-[X]-[Z], with the final (third) zig-zag major [Z] lower underway to the 50% Fib retrace of P1-C3 at 3505. Minor A of major [Z]-P2 completed at 3887. Minor B was the 50% Fib retrace to 4119. Now the final minor C of major [Z] down is headed for 3505. Within minor C, minute (1) ended at 3837, minute (2) at 3907, and minute (3) completed at 3623, just beyond the (3)=(1) target of 3625. Minute (4) wave is currently underway with a 38% Fib target at 3731 (hit 3712 thus far). Once minute (4) wave completes, there will one more wave lower for minute (5) of minor C, to where minor C=1.38A at 3515 and the 50% Fib of P1 at 3505. Note: The alternate (blue) wave count minute (4) wave is valid below the minute (1) low 3837.
  3. The alternate (red) count is that major [C]-P2-C3 headed the 62% Fib for P2 at 3190. Minor 1 of major [C] was the drop from 4326 to 3887. Minor 2 was the 50% Fib rise from 3887 to 4119. Now the minor 3 wave is headed for a target a target at M3=1.62M1 = 3408. Within minor 3, minute (1) completed at 3837 and minute (2) retraced to the 38% Fib at 3907. Now minute (3) of minor 3 down is underway with an initial target at (3)=1.62(1) = 3450. Note: The alternate (red) wave count is valid below 3907.

SP-500 15-min chart:

SP500 Technical Analysis

SP-500 60-min chart:

SP500 Technical Analysis

SP-500 daily chart:

SP500 Technical Analysis

SP-500 weekly chart:

SP500 Technical Analysis

SP-500 monthly chart:

SP500 Technical Analysis

4 Responses to “September 28th, 2022: SP-500 Chart Update”

  1. pugsma said

    On the SP-500, the 3623 low is not a “Perfect” bottom because we did get +DIV on the 60-min and weekly charts, we did not get +DIV on the daily chart.

    I will be very interesting the next few days to week to see whether or not the alt(blue) count plays out achieving the daily chart +DIV.

    The VIX and NYMO should provide clues.

  2. pugsma said

    VIX closed back below its upper BB today, completing step 1 of the 2 step process of confirming the VIX Sell, SP500 Buy signal. Final confirming step 2 is a red VIX close on Thursday.

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