Triple 000 and Sub-penny Chart Plays

[trader53]

S&P 500 - for Wednesday, August 3, 2016

https://caldaro.wordpress.com/

Tuesday Update

Posted on August 2, 2016

LONG TERM: Uptrend

MEDIUM TERM: Uptrend

SHORT TERM: Int. Wave iv pullback underway, DOW -91


The market opened lower today,
bounced,
and then broke below the SPX 2159 level
confirming Intermediate wave iv was underway.

Minor wave 5 of Int. iii was quite short,
ending within the 2 point range of the 2180 level.

Since Int. ii began on the first day of July,
was a 2-day 35 point decline,
and found support near the 2070 pivot
with a positive divergence.

We would expect Int. iv to have a similar decline,
having started on the first day of August,
and find support near the 2131 pivot
with possibly a positive divergence as well.

Short term support
is at the 2131 and 2085 pivots,
with resistance at the 2177 and 2212 pivots.

Short term momentum
hit extremely oversold at today’s low then bounced.

Trade what is in front of you!

S&P 500 - Futures Charts (Hourly)



S&P 500 - Futures Charts (Daily)













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


LONG TERM: uptrend

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: uptrend

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