Triple 000 and Sub-penny Chart Plays

[trader53]

S&P 500 - for Tuesday, May 3, 2016

https://caldaro.wordpress.com/

Monday Update

Posted on May 2, 2016

LONG TERM: Bear Market Rally

MEDIUM TERM: uptrend rebounding

SHORT TERM: market rebounds, DOW +118


The market opened higher today,
following Friday’s afternoon rally,
bounced around a bit early,
and then hit the 2085 pivot range.

With the rally above SPX 2081 today
the entire decline
from the recent 2111 high to 2052 low
begins to look corrective.

Unless the market heads lower again before hitting SPX 2100.

Considering how oversold the NDX/NAZ were on Friday,
this rebound should not have been too much of a surprise.

Short term support
now at the 2070 and 2043 pivots,
with resistance at the 2085 pivot and SPX 2104.

Short term momentum
rose from quite oversold on Friday to quite overbought today.

Trade what’s in front of you!

S&P 500 - Futures Charts (Hourly)



S&P 500 - Futures Charts (Daily)













* Note - The October 2015 Bottom, resembles 1998 and 2011 Bottoms


LONG TERM: Bear Market Rally

MEDIUM TERM: uptrend rebounding

* 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 Rally

MEDIUM TERM: uptrend rebounding

* 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
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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

http://finviz.com/futures_charts.ashx?t=ES&p=h1

http://finviz.com/futures_charts.ashx?t=ES&p=d1