AI
Friday, January 08, 2016 3:48:01 AM
https://caldaro.wordpress.com/
Thursday Update
Posted on January 7, 2016
SHORT TERM: gap down opening again, DOW -392
The market gapped down at the open today
for the fourth time in the last five trading days.
At the open the market dropped below the 1973 pivot
and the potential support levels we noted yesterday.
Then after hitting the 1956 pivot
the market rallied to the 1973 pivot
before heading even lower.
This market has remained in sell mode
since the last two days of 2015.
The turmoil in China’s market
has overflowed into world markets yet again.
The market action in China tonight
could be quite important heading into the US open tomorrow.
Be careful!
Short term support is at the 1929 and 1901 pivots,
with resistance at the 1956 and 1973 pivots.
Short term momentum
continues to display a positive divergence,
but thus far the market has not reacted positively.
Best to your trading with China
and monthly Payrolls on tap!
* 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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