AI
Thursday, December 31, 2015 3:57:42 AM
https://caldaro.wordpress.com/
Wednesday Update
Posted on December 30, 2015
SHORT TERM: pullback day, DOW -117
After yesterday’s gap up and go rally,
when the market became quite overbought short term,
today’s pullback fits.
From last week’s SPX 2006 low,
we have five waves up to SPX 2067
which we have temporarily labeled Minor 1
A pullback to SPX 2042, labeled Minor 2
And now a two wave rally SPX: 2082-2062 ?
We would expect this pullback to find support soon,
and then the rally to resume if we are in an uptrend.
Keep in mind
SPX 2044 still remains the up/down trend fulcrum point.
Short term support is at SPX 2042 and the 2019 pivot,
with resistance at the 2070 and 2085 pivots.
Short term momentum declined
from yesterday’s quite overbought condition
to oversold today.
Best to your last day of trading in 2015!
* 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
Discover What Traders Are Watching
Explore small cap ideas before they hit the headlines.
