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October 21st, 2022: SP-500 Chart Update

Posted by pugsma on October 21, 2022

5:05 pm EST: The SP-500 opened flat from 3665, dropped quickly to 3647 (day’s low) then rallied steadily all day to 3757 (day’s high) and closed near the high at 3752.

Chart Pattern: There is potential bullish Inverse Head and Shoulder (IHS) Pattern on the 60-min chart with head at 3492, sloping neckline at 3785 average and target at 3785 + (3785-3492) = 4078.

Calendar Year Seasonality (SP-500):

4-Year Presidential Cycle Seasonality (DJIA-30):

Wave Count: 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 of major [1] target is the 4086 pivot area. Note: The primary (white/green) count is valid above 3492.

Have a great weekend !

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

2 Responses to “October 21st, 2022: SP-500 Chart Update”

  1. pugsma said


  2. pugsma said

    Simple but classic technical analysis here:


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