Market Data 
Markets
Replies to post #79610 on Triple 000 and Sub-penny Chart Plays
Monday Update
Posted on December 14, 2015
SHORT TERM: volatile day to start week, DOW +103
The market opened about flat today,
bounced, pulled back, rallied, sold off,
then rallied again.
A volatile day swinging between SPX 1994 and 2023.
Oddly enough, the index futures had a 28 point range overnight.
But today’s cash market increased the daily futures range
to 36 points.
A volatile day.
The low for the day found support
at the 50% uptrend retracement level of SPX 1993.
A 30 point rally followed that low.
While this could be the low of the downtrend,
a few technical factors we have been tracking,
are still not aligned.
Possibly an inside trading day,
retest of the low or even lower,
tomorrow will set things up.
Short term support rises to the 2019 pivot and SPX 1992/1993, with resistance at SPX 2034/2037 and SPX 2050/2056.
Short term momentum hit extremely oversold
at the low then rebounded to above neutral.
Tuesday Update
Posted on December 15, 2015
SHORT TERM: gap up and go Tuesday, DOW +156
The market gapped up at the open today
and continued to rally into midday.
This was a bit of a surprise
as we somewhat expected an inside day today,
so that the rest of our technical indicators would align.
The market, however, obviously had other intentions
off the SPX 1993 50% retracement low.
The rebound in Crude did not hurt either.
With the two day rally reaching 60+ points,
it is now the best rally since the downtrend began.
Thus far the rally looks impulsive in the SPX,
but only four waves: 2018-2006-2054-2042 ?
The next two/three days, however,
could be quite volatile
with the FED and year end options expiration.
Short term support is at SPX 2034/37 and the 2019 pivot,
with resistance at SPX 2050/56 and the 2070 pivot.
Short term momentum hit quite overbought at today’s high
then began to decline.
AI
