SPX Roadmap Oct 2018

11 oct. 2018

Correction could go on into next week

12 oct. 2018

Note

Based on my set of metrics, yesterday registered as 2/3 most oversold condition for the last 5 years! So assuming there is a catalyst to the upside, the chase for performance in the fund space into year end could be massive. This should all come within a deteriorating economic background of growth slowing 4Q18 and 1Q19.. so corrective up

12 oct. 2018

Note

Most likely depending on today/Monday, an undercut low or some other final low next week (similar to Feb 2018). In any way, from a cyclical aspect 2/3 week of Oct was the expected focal point of max selling pressure

12 oct. 2018

Note

The decline from the high represents 61% Fib retrace of the upmove from April 4. Typical deep retrace for a running flat C wave.

13 oct. 2018

Note

Lots of selling last week, but looking at majority of my indicators it does seem a bit more selling is needed next week plus the impulse wave from the high does not look like finished

14 oct. 2018

Note

Another alternative is this to have been 1 and 2 wave of ED which means Wave 3 to start this week..all corrective waves of course

15 oct. 2018

Note

What supports this latter one is that we had a deep retrace to 62% for potentially Wave 2..so Wave 3 starts this week then

16 oct. 2018

Note

Good initial bounce so far

17 oct. 2018

Note

Testing of resistance turned support now at 2780 was succesful. Good..

17 oct. 2018

Note

I am thinking 2966/3015 by year end

17 oct. 2018

Note

Looks like a bearish butterfly pattern tentatively

23 oct. 2018

Note

Very good day today, the reversal above the midline rising

25 oct. 2018

Note

The running correction is not invalidated yet. Tomorrow is critical