Triple 000 and Sub-penny Chart Plays

[trader53]

S&P 500 - for Tuesday, June 14, 2016

https://caldaro.wordpress.com/

Monday Update

Posted on June 13, 2016

LONG TERM: Neutral

MEDIUM TERM: Uptrend

SHORT TERM: pullback continues, DOW -133

The market opened lower today,
as foreign markets sold off.

Then after turning slightly positive
the market headed even lower after Europe closed.

Thus far we are still counting three waves down
from the SPX 2121 high: 2108-2118-2078,
during this largest pullback
since the uptrend began at SPX 2026.

Currently we observe
a double positive divergence short term,
but no bounces yet, and an oversold daily RSI.

Normally this should be enough
for a reversal to the upside soon.

Short term support
drops to the 2070 and 2043 pivots,
with resistance at the 2085 pivot and SPX 2121.

Best to your trading!

S&P 500 - Futures Charts (Hourly)



S&P 500 - Futures Charts (Daily)













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


LONG TERM: Neutral

MEDIUM TERM: Uptrend

* Primary Waves I and II - completed in 2011

* Primary Waves III and IV - completed in 2015

* Primary Wave V - Failed


















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





































LONG TERM: Neutral

MEDIUM TERM: Uptrend

* 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

http://finviz.com/futures_charts.ashx?t=ES&p=h1

http://finviz.com/futures_charts.ashx?t=ES&p=d1