Triple 000 and Sub-penny Chart Plays

[trader53]

S&P 500 - for Monday, January 14, 2019


WEEKEND UPDATE:


Posted on January 12, 2019

by tony caldaro

https://caldaro.wordpress.com/

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We are expecting
a three wave bear market

After that,
the next bull market should begin.

Keep in mind
we are in a Secular generational bull market,
and we are not expecting it to top
until the early 2030’s.

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We see two
potential support levels
for the next,
and maybe last, selloff.

SPX 2310 C = 1.5 A

SPX 2270 C = 1.62 A







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The Kick-Off Months in the OTC - Jan/Feb - Jun/Jul
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=137701925

https://caldaro.wordpress.com/

https://stockcharts.com/h-sc/ui?s=%24SPX&p=W&yr=5&mn=0&dy=0&id=p7587581294c

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LONG TERM: downtrend probable

With Major wave 1 completed,

a Major wave 2 bear market
is underway.


After the expected

Major wave 2 Bear Market ends,

the Primary III Secular Bull Market will resume.

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Nothing has changed in the long term count
for the US major indices.

A Primary I bull market
ran from 2009-2015

Primary II lasted 9 months
but did little damage
ending in February 2016

Major 1 of Primary III
rose from that low
to September – October 2018

A Major 2 bear market,
having dropped 20% already,
has been underway since then.

When it concludes,
if it hasn’t already,
an Intermediate I bull market
will be underway.

Intermediate I, of Major 3, of Primary III.






MEDIUM TERM: downtrend

After the bull market high
in October 2018 at SPX 2941
the market headed into a bear market.

The decline appeared ordinary until December.

Then the market went into avalanche mode.


The market dropped
from SPX 2800 to SPX 2347 by Christmas,
a 16.2% decline,
for the worse December since the year 1931.

After that
the market reversed
and changed characteristics.

While nearly every rally was sold in December,
nearly every decline is currently being bought.

The SPX in 12 trading days
has rallied from 2347 to 2598,
a 10.7% gain.





SHORT TERM

The approach I am using
displays 5 impulsive waves up
(SPX 2347-2520),

a choppy pullback to SPX 2444,
then 5 overlapping waves
(possibly an expanding diagonal)
to SPX 2598

Waiting to see how this unfolds
in the days ahead.

Short term support
is at the 2594 and 2575 pivots,
with resistance
at the 2632 and 2656 pivots.

Short term momentum
ended the week above neutral.






Stock Scores Chart Links
https://www.stockscores.com/charts/charts/?ticker=%24SPX
http://stockcharts.com/h-sc/ui?s=%24SPX&p=D&yr=3&mn=0&dy=0&id=p16291900332