10/24/18

Lincoln Oehlers | October 23, 2018

S&P 500 (SPY) 274.56 is the 50-WMA. The rally took it up to 274.87 and then it closed below the 50-WMA. Plus, on those questions above-it’s not a confirmed reversal bottom, it didn’t clear R1, it didn’t change phase and it was a bottom today but so far, no sign that is the bottom.

Russell 2000 (IWM) 151.88 low from 10/12, is a good pivotal area for tomorrow. That and the 23-month moving average at 149.74

Dow (DIA) 251.55 the 200 DMA held. 250.23 is the 50-wk ma.

Nasdaq (QQQ) Best looking as it did not break 167.81, the last swing low. Makes sense to look here for an active long if it can get back over 175.40 area. If not, 169.57 its 50-week ma.