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Replies to post #71799 on Triple 000 and Sub-penny Chart Plays
LONG TERM: bull market
MEDIUM TERM: downtrend
SHORT TERM: gap up opening, DOW +126
The market gapped up at the open today
following Friday’s short term positive divergence
at the close.
After what appears to be five waves down
from SPX 2021 to 1953: 1987-2000-1963-1979-1953.
The market looks to be rallying
in an a-b-c off that low: 1980-1956-xxxx.
If the rally continues into tomorrow
the ‘c’ wave should end between SPX 1980 and 2000.
If the market fails to reach the SPX 1980 level tomorrow,
then 1980 was the high and the next five down sequence
is already underway.
Either way expecting more downside pressure ahead.
