Triple 000 and Sub-penny Chart Plays

[trader53]

S&P 500 - for Tuesday, May 24, 2016

https://caldaro.wordpress.com/

Monday Update

Posted on May 23, 2016

LONG TERM: Bear Market

MEDIUM TERM: downtrend

SHORT TERM: quiet day, DOW -8

The market started the week on a fairly quiet note.

After opening one point lower
it remained in a nine point range for the entire day:
4 above and 5 below Fridays’ close.

Thus far we see only one wave up
from Thursday’s SPX 2026 low to Friday’s 2058 high,
and then a pullback to 2047.

Still expecting a pop to the 2070 pivot range.

Short term support
remains at the 2043 and 2019 pivots,
with resistance at the 2070 and 2085 pivots.

Short term momentum
headed toward oversold with today’s activity.

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

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
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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