Risk Is High ! New Sharp Move to the Downside Possible.

SPCFD:SPX   S&P 500 Index
406 5
My proprietary analysis of the S+P 500 chart pattern setup on the close on 10/17/18
shows a potential to open up, + break sharply, and very quickly to the downside,
possibly starting another leg down in the S+P 500, as soon as 10/18 or 10/19/18

The rally this week has done almost everything
that it should have done to bring back the "buy on the dip "crowd into the market.
under the guise of better than expected rear view earnings .

The risk of a SHOCK factor is high here..
as a new complacency has crept right back into the market .
Caution is strongly advised.

10/17/18 842 PM New York
Oct 17
Comment: Pattern in place in the S+P 500 chart
is a potential "circular top",
seen most vividly on the 30 minute chart.

Because the "circular top" pattern has strong bearish potential to it,
the risk to the downside in price in a sharp and sudden move down is acute.

10/17/18 925 pm New York



Excellent and thank you for your posts.
Very good analysis. Thank you.
The_Unwind TimZumwalt

I appreciate your compliment.
Thank you

I agree with you although my timing has been off lately... That being said, it has the potential to be a very simple ABC correction pattern. I know it sounds very simplistic and it might be but I see the reversal and the market currently near (?) Top of phase b, which should lead to downmove C that retests the lows of last week or possibly even more downside.

Thank you Jay, for your interpretation.

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