ADTM - S&P 500 - Symmetrical Triangle for Wednesday, April 25, 2018 ADTM - S&P 500 - To make New Highs ADTM - Follows the Market as measured by the S&P 500 _________________________________________________________________ Key Tops: March / August / January S&P 500 - Key Tops: 2400 / 2490 / 2872 ADTM - Key Tops: 0.0004 / 0.0012 / 0.0023 _________________________________________________________________ Tuesday update Posted on April 24, 2018 by tony caldaro REVIEW https://caldaro.wordpress.com/ LONG TERM: Uptrend MEDIUM TERM: Downtrend Intermediate wave iv could have completed in February, after a 12% selloff ended with positive RSI divergences everywhere. The market rallied about 10% into March, did not make a new high and then failed. A retest of the low occurred right on the first trading day of April. Again with positive divergences. But the market has again failed to sustain an impulsive rally off those lows. We are still expecting at least one more uptrend , and series of new all-time highs . Medium term support remains at the 2656 and 2632 pivots, with resistance at the 2731 and 2780 pivots. SHORT TERM: gap up opening then selloff, DOW -425 The market gapped up today. Which is nothing unusual these days when considering all the gap openings during the past few months. After running up to yesterday’s high, 2884 v 2683, the market headed south in a hurry. At today’s low the SPX had dropped 67-points, in 5 hours, on no negative news . It must be a correction . Today’s drop increased the probability of the double three scenario posted on the hourly chart. This suggests a retest of the February/April lows should end this Intermediate wave iv correction . Levels of interest, noted over the weekend, are SPX 2586, 2554 and 2533. Short term support drops to the 2632 and 2594 pivots, with resistance now at the 2656 and 2731 pivots. 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