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October 18th, 2022: SP-500 Chart Update

Posted by pugsma on October 18, 2022

10:40 am EST: The SP-500 gapped up from 3678 to 3646, quickly hit 3763 …

Technical Analysis Indicators: Print SharpCharts from StockCharts.com

P2-C3 Price and Time Fibonacci Targets: The P1-C3 wave rose from 2192 to 4819 and lasted from end of March 2020 to beginning of January 2022 (21 months). For P2-C3:

  1. 50% Fib of Price and Time is at 3505 and 10.5 months (mid-Oct to mid-Nov 2022).
  2. 62% Fib of Price and Time is at 3190 and 13 months (Jan to Feb 2023).

Wave Counts:

  1. The primary (white/green) count is that major [Z]-P2-C3 bottomed at 3492 right at the 50% Fib in price (3505) and 50% Fib in time (Oct 2022) of P1-C3. Minute (1) of minor 1 of major [1]-P3 complete at 3712. The minute (2) pull-back completed at 3580, at the 62% Fib retrace of 3576. The minute (3) wave up is underway and will move above 3900, with a (3)=1.62(1) target at 3936. The minor 1 target is the 4086 pivot area. Note: The primary (white/green) count is valid above 3492.
  2. The alternate (blue) count is that [Y]-P2-C3 is headed to the 62% Fib of P1-C3 in price (3190) and the 62% Fib in time (Jan-Feb 2023). The minor A of major [Y] completed at 3492. The minor B wave is now headed for the 50%/62% Fib at 3909 to 4009. Within minor B, minute (a) completed at 3712 and minute (b) retraced to 3580, near the 62% Fib at 3576. The minute (c) wave up is underway and should move above 3800 to complete minor B. Note: The alternate (blue) count is valid below 4326.

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

5 Responses to “October 18th, 2022: SP-500 Chart Update”

  1. MS53 said

    Is this what you could call a (1),(2), i, ii construct ? If so, is there a bullish element to wave ii breaking below wave (1) ?

  2. pugsma said

    The 3-month to 10-year US treasury yield is very close to inverting again. This indicator has a prefect track record at predicting a US recession.


  3. pugsma said

    The NYMO closed today at a healthy +36 today.

    This is also higher than the +25 when the SP500 recently closed at 3783. Thus, the SP500 should follow the NYMO and close above 3783.

  4. pugsma said

    Withing the 2022 Custom Chart Archive Service, I have updated the charts for NFLX (earnings posted today after the close) and TSLA (earnings on Wed 10/19 after the close).


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