Triple 000 and Sub-penny Chart Plays

[trader53]

S&P 500 - for Thursday, July 7, 2016

https://caldaro.wordpress.com/

Wednesday Update

Posted on July 6, 2016

LONG TERM: Neutral

MEDIUM TERM: uptrend probable

SHORT TERM: gap down opening then rebound, DOW +78


The market gapped down at the open today
for the second day in a row.

Something it hasn’t done
since the Brexit vote two weeks ago.

After opening below yesterday’s low
the market traded down to SPX 2074
exactly when Europe closed for the day.

It then rallied to 2101,
its highest level of the week.

The rally from SPX 1992-2109
does look impulsive after all,
and the recent pullback corrective.

As long as SPX 2074 holds,
the next leg up is underway.

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

Short term momentum
displayed a slight positive divergence
at today’s low,
then rose to overbought.

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 probable

* 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 probable

* 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