Market Data 
Markets
Replies to post #80902 on Triple 000 and Sub-penny Chart Plays
Monday Update
Posted on January 11, 2016
SHORT TERM: gap up opening volatile day, DOW +52
The market had a gap opening
for the seventh day in a row: 4 dn – 3 up.
After hitting SPX 1936 right after the open
the market worked its way down to the 1901 pivot by 2pm.
After that the market rallied: 1917-1905-1930.
This 29 point rally is the best rally
since the SPX 2022 decline began.
Since the SPX 2082 decline began,
the best rally has been 32 points.
Often best rallies, off lows,
signal the start of a reversal.
Thus far this lengthy decline
has been held in check by the 1901 pivot.
Need to see five waves up from that low
in order put a green Major 2 on the chart.
Short term support is at SPX 1916 and the 1901 pivot,
with resistance at the 1929 and 1956 pivots.
Short term momentum
finally picked up off that positive divergence.
Best to your trading!
AI
