Triple 000 and Sub-penny Chart Plays

[trader53]

ADTM - S&P 500 - Symmetrical Triangle

for Monday, May 07, 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


_________________________________________________________________


Weekend update

Posted on May 05, 2018

by tony caldaro

REVIEW

https://caldaro.wordpress.com/


LONG TERM: Uptrend

The DOW, NYSE and DJ Global index
still require at least one more new high
to end their bull markets.

No bear market yet!



MEDIUM TERM: Downtrend

We continue to track two possible scenarios:

triangle and double three .

The triangle pattern
suggest a rally to exceed SPX 2717
in the coming days/weeks
to complete a wave D.

Then a decline to about the mid-2550 level
to end wave E
and a triangular Int. wave iv.

The double three pattern
suggests a drop to the mid-2550’s or so
without ever rallying above SPX 2717
to complete a 3-3-3 pattern.

Either way
it appears the mid-2550’s would be hit
before the market enters a new uptrend.



In January 2018,

Minor wave 5 completed,
along with Intermediate wave iii,
and an Intermediate wave iv correction began.

We are still expecting at least one more uptrend,
and series of New all-time highs.

_______________________________________________________________


SHORT TERM:

The short term patterns during this correction
have displayed signs of impulsiveness activity,
but have all ended in corrective activity.

Even Thursday/Friday’s rally
from SPX 2595 looks impulsive.

But will it hold ?

Recent market activity suggests not likely.

Technically
Thursday’s low did provide
some positive RSI divergences
on the hourly and daily charts.

And the market responded with a good rally.

SPX 2683/84 is the next resistance,
then SPX 2717.

A failure at SPX 2670
might lead to another three waves down
into the final low.

Stay tuned.

Short term support
is at the 2656 and 2532 pivots,
with resistance at the 2731 and 2780 pivots.

Short term momentum
ended the week overbought.


________________________________________________________________









________________________________________________________________



Key Tops: - are Labeled


Key Tops: March / August / January


S&P 500 - Key Tops: 2400 / 2490 / 2872

ADTM - Key Tops: 0.0004 / 0.0012 / 0.0023


http://stockcharts.com/h-sc/ui?s=%24SPX&p=D&yr=3&mn=0&dy=0&id=p16291900332

https://www.stockscores.com/charts/charts/?ticker=ADTM


________________________________________________________________