Triple 000 and Sub-penny Chart Plays

[trader53]

S&P 500 - for Thursday, August 11, 2016

https://caldaro.wordpress.com/

Wednesday Update

Posted on August 10, 2016

LONG TERM: Uptrend

MEDIUM TERM: Uptrend

SHORT TERM: pullback continues, DOW -37


Interesting juncture.

The market opened slightly higher today
then immediately resumed yesterday’s pullback.

At the SPX 2172 low
the market had declined 16 points
from yesterday morning’s all time high at 2188.

So far this is a normal pullback
for a Minor wave during this uptrend.

However,
with negative divergences on the hourly/daily charts
and a potential five Int. waves up in 4 of the 5 indices,
this pullback could turn into a correction.

The only index that has not made a new high
during this last rally is the DOW.

It suggests this pullback is only Minor wave 2 of Int. v.

These two options were posted earlier on the SPX hourly chart.

Time to choose which scenario you prefer,
or just hedge longs and watch Crude
which led the market lower today,
and wait to see what unfolds.

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

Short term momentum
is displaying a slight positive divergence
at today’s low.

Trade what’s 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
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=116564037


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