Triple 000 and Sub-penny Chart Plays

[trader53]

S&P 500 - for Friday, July 8, 2016

https://caldaro.wordpress.com/

Thursday Update

Posted on July 7, 2016

LONG TERM: Neutral

MEDIUM TERM: uptrend probably underway

SHORT TERM: higher open then rally fades, DOW -23


The market opened higher today,
rallied back to Friday’s SPX 2109 high,
then pulled back for the rest of the day
before rallying into the close.

Looks like an overhead declining trend line has formed:
SPX 2121 uptrend high,
SPX 2113 pre-Brexit high,
and SPX 2109 post-Brexit high.

The rally from yesterday’s SPX 2074 low
was not able to break through that resistance today
when hitting SPX 2109.

SPX 2100+ continues to be formidable.

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

Short term momentum
declined after getting quite 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 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