S&P to 2600

Oct 11, 2018

The Dow and S&P have been topping for the last few weeks. Yesterdays fall stopped in an interesting place.
The chart shows three parallel lines. They represent overall trend of price for the last few months. The middle and lower lines were cloned from this.
The Pitchfork is non standard and is used only to show slope and Fibonacci levels.
One the one minute chart we can see a breach of the median line and retracement to it. Support becomes resistance .
We may see another leg down at the New York open.
Targets 2681, 2635 , 2600

Oct 11, 2018

Trade active

Oct 12, 2018

Note

Looks like temporary low. Consider Long here for one or two days 2735

Oct 12, 2018

Note

V shaped bottom. Already up 15 points

Oct 16, 2018

Note

now up 70 points.
This is an important area because it is 2800 and because it coincides with the median line of the modified pitchfork

Oct 18, 2018

Note

close long position at 2780 and open short position

Oct 18, 2018

Note

55 points profit

Oct 22, 2018

Note

close short at 2773.5 open long