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Sunday, September 02, 2018 9:58:19 AM
Market Weekend Update - Short Term
By: Tony Caldaro | September 1, 2018
Minute wave iii has rallied pretty much straight up since the Minute ii low. There have been several pullbacks, but none over 20 points until this last one from Wednesday’s high. Thus far from the SPX 2802 low: 2819-2806-2850-2834-2873-2854-2917-2892? It’s clearly a strong advance as none of the pullbacks have overlapped the previous high, and market breadth has continued to climb to new highs as well.
Once this pullback concludes we’re expecting a rally to new highs, probably the OEW 2929 pivot range, before Minute iii could possibly end. More than likely, only wave 1 of Minute iii would conclude at that point. Short term support is at the 2884 and 2858 pivots, with resistance at the 2929 pivot. Short term momentum ended the week at neutral. Best to your trading!
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By: Tony Caldaro | September 1, 2018
Minute wave iii has rallied pretty much straight up since the Minute ii low. There have been several pullbacks, but none over 20 points until this last one from Wednesday’s high. Thus far from the SPX 2802 low: 2819-2806-2850-2834-2873-2854-2917-2892? It’s clearly a strong advance as none of the pullbacks have overlapped the previous high, and market breadth has continued to climb to new highs as well.
Once this pullback concludes we’re expecting a rally to new highs, probably the OEW 2929 pivot range, before Minute iii could possibly end. More than likely, only wave 1 of Minute iii would conclude at that point. Short term support is at the 2884 and 2858 pivots, with resistance at the 2929 pivot. Short term momentum ended the week at neutral. Best to your trading!
»»» Read More…
• DiscoverGold
Click on "In reply to", for Authors past commentaries
Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Your Due Dilegence is a must!
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