CHARTS_CCI_SYSTEM

[rimshot]

$SPX 63-day simple moving average nearly contained
the October 8, 2018 intraday price low
AND
price closed the day above the 63-day

SPX daily chart -

* the S&P 500 ITVM at the zero line now from above is a
major red flag, so predicting the next few days' of price
action direction is vulnerable to mistake ...
for the ITVM's and ITBM's eventual chart location
outcome



* S&P 500 bulls need the ITBM and ITVM to remain above the 10-day ema and above the zero line.
Declines below the 10-day ema often signal a lasting
decline by both price and indicators while holding below the 10-day ema

do not underestimate the importance of:
* the chart location and
* the pattern structure
for the ITBM and ITVM to the actual future price outcome for the S&P 500 and for the US equity market

ITBM defined -
http://stockcharts.com/school/doku.php?id=chart_school:market_indicators:dpitbm

ITVM defined -
http://stockcharts.com/school/doku.php?id=chart_school:market_indicators:dpitvm