Triple 000 and Sub-penny Chart Plays

[trader53]

S&P 500 - for Wednesday, July 6, 2016

https://caldaro.wordpress.com/

Tuesday Update

Posted on July 5, 2016

LONG TERM: Neutral

MEDIUM TERM: uptrend probably underway

SHORT TERM: gap down opening, DOW -109


The market gapped down at the open
for the first time since the beginning of last week.

Then the market put in a double bottom by 3pm
and rallied into the close.

Today the market also put in a double bottom by 3pm
and rallied into the close.

We can now count four waves,
with a fifth possibly underway,
from last Monday’s SPX 1992 low:
2027-2016-2109-2081-2091 so far.

An impulsive advance if it hits 2109+
or corrective if not.

Short term support
is at the 2085 and 2070 pivots,
with resistance at SPX 2111 and SPX 2121.

Short term momentum
hit oversold today
after last week’s extreme overbought condition.

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 probably underway

* 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 probably underway

* 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