AI
Monday, December 21, 2015 7:48:15 PM
https://caldaro.wordpress.com/
Monday Update
Posted on December 21, 2015
SHORT TERM: gap up opening, DOW +123
The market gapped up at the open today
creating the best rally since the recent decline
from SPX 2077 began.
But that rally ended
a few minutes after the market opened at SPX 2023,
and the market completely closed the upside gap
at SPX 2006 by 11:30.
After that the market bounced around a bit
before rallying back to SPX 2021 at the close.
For the third day in a row
the market opened at the high of the day
and declined after that.
Change the pattern, change the trend ?
After seven waves down into Friday’s SPX 2005 low,
the market bounced around between 2006 and 2023 today.
The action looked choppy.
Short term support at the OEW 2019 pivot and SPX 1993,
with resistance at SPX 2042 and the 2070 pivot.
Short term momentum rose to just above neutral
off of Friday’s positive divergence,
where it ended the day.
* Note - The October 2015 Bottom, resembles 1998 and 2011 Bottoms
LONG TERM: bull market
MEDIUM TERM: Uptrend
* Primary Waves I and II - completed in 2011
* Primary Waves III and IV - completed in 2015
* Primary Wave V should carry the market
to All time New Highs.
* Note - The October 2015 Bottom, resembles 1998 and 2011 Bottoms
LONG TERM: bull market
MEDIUM TERM: Uptrend
* Primary Waves I and II - completed in 2011
* Primary Waves III and IV - completed in 2015
* Primary Wave V should carry the market
to All time New Highs.
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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