Triple 000 and Sub-penny Chart Plays

[trader53]

S&P 500 - for Wednesday, May 25, 2016

https://caldaro.wordpress.com/

Tuesday Update

Posted on May 24, 2016

LONG TERM: Bear Market

MEDIUM TERM: downtrend

SHORT TERM: gap up opening. DOW +213


The market gapped up at the open today
after the lowest volume of the year yesterday.

Overnight futures appeared to be following the DAX,
as it rose 3% from its opening low
to finish +2.3% on the day.

After the European markets closed
the SPX made only 5 additional points upside progress.

Today’s high, SPX 2080,
hit the lower range of the 2085 pivot,
which is slightly above the level we were expecting
for this Int. wave B rally from SPX 2026.

Int. B could still travel a bit higher,
but any intraday decline below SPX 2058
will suggest it has ended.

Short term support
is at the 2070 and 2043 pivots,
with resistance at the 2085 pivot and SPX 2111.

Short term momentum
was quite overbought at the today’s high,
and ended with a slight negative divergence.

Best to your trading!

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