Triple 000 and Sub-penny Chart Plays

[trader53]

S&P 500 - for Tuesday January 12, 2016

https://caldaro.wordpress.com/

Monday Update

Posted on January 11, 2016

SHORT TERM: gap up opening volatile day, DOW +52

The market had a gap opening
for the seventh day in a row: 4 dn – 3 up.

After hitting SPX 1936 right after the open
the market worked its way down to the 1901 pivot by 2pm.

After that the market rallied: 1917-1905-1930.

This 29 point rally is the best rally
since the SPX 2022 decline began.

Since the SPX 2082 decline began,
the best rally has been 32 points.

Often best rallies, off lows,
signal the start of a reversal.

Thus far this lengthy decline
has been held in check by the 1901 pivot.

Need to see five waves up from that low
in order put a green Major 2 on the chart.

Short term support is at SPX 1916 and the 1901 pivot,
with resistance at the 1929 and 1956 pivots.

Short term momentum
finally picked up off that positive divergence.

Best to your trading!

* 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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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