AI
Thursday, December 24, 2015 4:36:36 AM
https://caldaro.wordpress.com/
Wednesday Update
Posted on December 23, 2015
SHORT TERM: gap up week so far, DOW +185
The market gapped up at the open
for the third day in a row this week.
Yesterday’s market activity seemed to have set the tone
as the market closed above where it had opened
for the first time in three days.
If Monday’s SPX 2006 low was the end of the downtrend
it was a failed Minor c wave.
The only index that made a lower low,
and got sufficiently oversold, was the DOW.
From Monday’s low
we currently have an impulsive five waves up:
2017-2008-2030-2020-2065.
Should the market continue to move higher tomorrow
we are likely to get a WROC signal,
suggesting an uptrend is indeed underway.
Our last WROC signal occurred at the beginning of October.
Short term support is now at SPX 2042 and the 2019 pivot,
with resistance at the 2070 and 2085 pivots.
Short term momentum is currently in a stratospheric
overbought condition.
A pullback can occur at any time.
Best to your holidays!
* 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
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