Triple 000 and Sub-penny Chart Plays

[trader53]

the ELLIOTT WAVE lives on

MEDIUM TERM: downtrend

https://caldaro.wordpress.com/

CHARTS: http://stockcharts.com/public/1269446/tenpp

https://caldaro.wordpress.com/2014/11/01/guidelines-how-to-use-this-site/

The US bull market is currently in it's sixth year.
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LONG TERM: bull market

MEDIUM TERM: downtrend

The market has yet to extend its long term uptrend
into the sixth calendar year.

Currently, after December’s all time high,
it is already in its sixth year
having lasted 68 months.

Calendar years, however, have more of a significance
in OEW terms.

Historically, there have been numerous bull markets
lasting 1-to-4 calendar years.

* Three including this one, lasting 5 years
* One lasting 8 years
* One lasting 13 years
* None lasting 6 or 7 years


With the month of January now in the books,
and no new highs, our next long term price projection
remains on hold.

While our long term indicators suggest we have not
even reached a Primary wave III high for this market,
let alone a bull market high.

We think it is prudent to at least entertain
the Primary III count.

History has shown that no indicators are perfect,
and this market has been full of surprises
since it began in 2009.

With this in mind we have updated the DOW charts
to display a potential Primary III completed
at the early December high.

Then we have a Major wave a down
into the mid-December low,
followed by an irregular Major wave b
into the late-December high,
with now Major c underway.

Should this count prove to be correct,
which we give a 20% probability,
we would expect this downtrend to take the DOW
to at the least the October low at 15,855.

Our main count, with a 70% probability,
is still carried on the SPX/NDX charts.

This count suggests Primary III is still unfolding,
and the market is currently downtrending
in Major wave 4.

When the downtrend concludes, a simple or subdividing
Major wave 5 should take the market to all time new highs.

Then after a Primary III high, a Primary IV correction
will occur before Primary V takes the market
yet again to new highs.

This count also suggests this market has much
further to go on the upside before the
bull market concludes.




http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=1&mn=2&dy=0&id=p31848901315