Triple 000 and Sub-penny Chart Plays

[trader53]

S&P 500 - for Thursday January 14, 2016

https://caldaro.wordpress.com/

Wednesday Update

Posted on January 13, 2016

SHORT TERM: gap up opening crushed, DOW -365

In yesterday’s update we noted that the rally
from Monday’s SPX 1901 low looked choppy:
1917-1905-1947-1914-1950.

However, after the report we noted in the comments section
that the rally could continue to the 2019 pivot,
after the market had closed at 1939.

The market only made it to the 1956 pivot this morning
before breaking the recent SPX 1901 low.

This does not look good for a continuing bull market.

We had thought the 1901 pivot would provide support
for this downtrend.

While OEW has not confirmed a bear market yet,
we believe it is prudent to offer this possibility
on the charts.

Even though we have never seen a failed fifth wave
of this degree before, we, nor anyone else,
have experienced this type of bull market before either.

A drop below SPX 1867 will probably confirm
a bear market is underway.

Short term support is at the 1869 and 1841 pivots,
with resistance at the 1901 and 1929 pivots.

Short term momentum ended the day quite oversold.

Best to your trading this volatile market!

* Note - The October 2015 Bottom, resembles 1998 and 2011 Bottoms



LONG TERM: bull/bear market at inflection point

MEDIUM TERM: Downtrend



* 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/bear market at inflection point

MEDIUM TERM: Downtrend

* Primary Waves I and II - completed in 2011

* Primary Waves III and IV - completed in 2015

* Primary Wave V - Failed








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