Friday, January 22, 2016 4:59:17 PM
https://caldaro.wordpress.com/
Friday Update
Posted on January 22, 2016
SHORT TERM: gap up and go, DOW +211
Wild week!
After opening on Tuesday at SPX 1901
the market dropped to 1812 by Wednesday.
Yet after today’s gap up opening
the market has made the round trip
back to where it started ending at SPX 1907.
Yesterday we noted a seven wave sequence up
from the recent SPX 1812 low to 1890,
then a drop to SPX 1860.
After that we have rallied: 1877-1865-1907-1891-1909.
If we tentatively count
the rally to SPX 1890 as Minor a,
the decline to SPX 1860 as Minor b,
we are currently in Minor c of Intermediate wave A,
of a Major wave B uptrend.
More on this in the weekend update.
That daily RSI positive divergence
certainly has kicked off a good rally.
Best to your weekend!
* Note - The October 2015 Bottom, resembles 1998 and 2011 Bottoms
LONG TERM: Bear market
MEDIUM TERM: Downtrend
* Primary Waves I and II - completed in 2011
* Primary Waves III and IV - completed in 2015
* Primary Wave V - Failed
* Note - The October 2015 Bottom, resembles 1998 and 2011 Bottoms
LONG TERM: Bear market
MEDIUM TERM: Downtrend
* Primary Waves I and II - completed in 2011
* Primary Waves III and IV - completed in 2015
* Primary Wave V - Failed
Since 1929 there have been 13 bull markets
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=116564037
http://stockcharts.com/h-sc/ui?s=%24SPX&p=W&yr=1&mn=1&dy=0&id=p83822707561
http://stockcharts.com/h-sc/ui?s=%24SPX&p=D&yr=1&mn=1&dy=0&id=p43140782454
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