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Sunday, April 28, 2019 10:12:17 AM
Market Weekend Update - Short Term
By: Tony Caldaro | April 27, 2019
We are counting the high at 2852 as Minute i and the low at 2785 as Minute ii. The rally off the Minute ii low also appears to be subdividing into Micro waves as shown on the 60-minute SPX chart with Micro 3 still underway. Since Micro 3 began at 2788 there hasn’t been a pullback larger than 26pts, typical resilient 3rd wave action.
Short term support is at the 2929 and 2884 pivots with resistance at the 2957 and 2995 pivots. The week finished with the daily RSI showing a negative divergence, and the hourly in oversold territory.
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• DiscoverGold
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By: Tony Caldaro | April 27, 2019
We are counting the high at 2852 as Minute i and the low at 2785 as Minute ii. The rally off the Minute ii low also appears to be subdividing into Micro waves as shown on the 60-minute SPX chart with Micro 3 still underway. Since Micro 3 began at 2788 there hasn’t been a pullback larger than 26pts, typical resilient 3rd wave action.
Short term support is at the 2929 and 2884 pivots with resistance at the 2957 and 2995 pivots. The week finished with the daily RSI showing a negative divergence, and the hourly in oversold territory.
Read Full Story »»»
• 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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