Results and Update: There are no major change in trend points for the rest of the week
|10/22 Recap: - The S&P opened with an 4 handle gap down and continued 4 handles lower into a 9:30 AM low. From that low, the S&P zig zagged 18 handles higher into a 10:30 AM high of the day and a new all-time high. From that high, the S&P declined 36 handles into an 11:49 AM low. From that low, the S&P rallied 30 handles into a 2:37 PM high. From that high, the S&P declined 13 handles into a 3:19 PM low. From that low, the S&P rallied about 4 handles into the close.
10//22 – The major indices had a very divergent day with the following closes: The DJIA + 73.94; S&P 500 - 4.88; and the
Nasdaq Composite – 125.50. The DJIA made a new all-time high at 35.765.02; The S&P 500 made a new all-time high at 4559.67.
Looking ahead – Friday, the market had a very mixed divergent day with the S&P having a small lower close. Unfortunately, this gives us very little if any clue as to what we should do with our 10/22 AC change in trend window. There is a good chance that for a few days next week, the market will follow a mirror image of the past few days, which means choppy, whippy and mostly sideways. It could be more super siesta sideways action. Whatever trend is established by Tuesday is likely to continue for the rest of the week, as there are no major change in trend points for the rest of the week.
The NOW Index is in the NEUTRAL ZONE.
Coming Events:
(Stocks potentially respond to all events).
4. A. 10/22 AC – Mercury Greatest Elongation West. Major change in trend Corn, Oats, Soybeans, Wheat.
B. 10/22 AC – Jupiter 150 US Neptune. Moderate change in trend US Stocks, T-Bonds, US Dollar, & Oil.
C. 10/22 AC – Uranus 90 US MC. Major change in trend US Stocks, T-Bonds, US Dollar.
5. A. 10/29 AC – Venus Greatest Elongation East. Major change in trend Cattle, Copper, Cotton, Sugar, Wheat.5
B. 10/29 AC – Pluto 90 US Mercury. Major change in trend US Stocks, T-Bonds, US Dollar.
C. 10/29 AC – Geo Mars enters Scorpio. Important change in trend Cocoa, Hogs, and T-Bonds.
Stock Market Key Dates –
Fibonacci – 10/29
Astro – 10/25, 10/29 AC
Please see below the S&P 500 10 minute chart.
Support - 4524, Resistance – 4580
Please see below the S&P 500 Daily chart
Support - 4540, Resistance – 4580
Please see below the Planetary Index charts with S&P 500 10 minute bars for results.
As of 10/22, I am dropping the charts marked Pages 26 and 28.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.