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Sunday, November 11, 2018 4:08:47 PM
Market Weekend Update - Short Term
By: Tony Caldaro | November 10, 2018
While the Intermediate wave A downtrend was quite volatile, creating many waves. This uptrend has been a bit more subdued. Off the SPX 2604 low we tracked 5 waves up to 2737, a pullback to 2709, then a rally to 2757. Then after a decline to SPX 2700 the market streaked higher to SPX 2815. The entire movement can be considered a zigzag: 2757-2700-2815. Next a pullback to around SPX 2700 would fit as it matches the B wave of the zigzag.
Short term support is at the 2780 and 2731 pivots, with resistance at the 2798 and 2835 pivots. Short term momentum ended the week heading toward neutral. Best to your trading!
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• DiscoverGold
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By: Tony Caldaro | November 10, 2018
While the Intermediate wave A downtrend was quite volatile, creating many waves. This uptrend has been a bit more subdued. Off the SPX 2604 low we tracked 5 waves up to 2737, a pullback to 2709, then a rally to 2757. Then after a decline to SPX 2700 the market streaked higher to SPX 2815. The entire movement can be considered a zigzag: 2757-2700-2815. Next a pullback to around SPX 2700 would fit as it matches the B wave of the zigzag.
Short term support is at the 2780 and 2731 pivots, with resistance at the 2798 and 2835 pivots. Short term momentum ended the week heading toward 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!
• DiscoverGold
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