Starting today I'm shifting to SPY instead of SPX for consistency. 3 charts below: #1 shows long term pivots (yearly and half-year), #2 shows medium term (quarterly and monthly), and #3 combines both.

For abbreviations please check the FAQ page.

SPY and long term pivots (Y and H). After recovering and holding 2HS2 (green dots) on 9/30 & 10/1, 10/2-5 were the definitive trend change days with a huge high volume launch from 2HS2, then recovery of YP (orange crosses) and 2HS1 (green dots). After that, SPY held the YP / 2HS1 combo as support. On the long term view, SPY is clear to 2HP (orange dots).

This chart shows medium term pivots (Q & M). 10/2 recovered above OctP (orange dots) and 10/5 launched above Q4P (orange crosses). MR1 (small red dots) was just resistance for 2 days; back above was bullish. Clear sailing to Q4R1 / MR2 combo. Not even back-testing the Q4P was a sign of strength.

This chart shows both LT & MT together. Point is same. SPY is back above YP / Q4P combo as big support, and 2HS1 also helps. MR1 was the first possible resistance area. After being above for 3 days, it fell back underneath but only for 2 days. Clearing for the 2nd time means it should now act as support and other than weekly levels (not shown here) SPY should be heading to 2HP (orange dots) at minimum. Breaking MR1 would be the first sign (along with analysis of other indexes) to negate this view.