Market Data 
Markets
Replies to post #81477 on Triple 000 and Sub-penny Chart Plays
Monday Update
Posted on January 25, 2016
SHORT TERM: market back in pullback mode, DOW -208
The market opened the week at SPX 1903 and headed lower.
It did not get any support from Crude
as it declined from being +50 cents overnight
to -$2.00+ during the day.
The market tried twice to rally,
getting back to SPX 1903 at 10am
and then again at 1:30,
but sold off into the end of the day.
We labeled Friday’s SPX 1909 high as Intermediate wave A.
Minor c was 0.618 Minor a.
With the market in the Intermediate wave B pullback mode now,
we see three levels of support SPX: 1872, 1861 and 1849.
The first two are right around the 1869 pivot,
and the latter the 1841 pivot.
An Intermediate wave C rally should follow
when B concludes.
Short term support
is at the 1869 and 1841 pivots,
with resistance at the 1901 and 1929 pivots.
Short term momentum
fell to oversold after Friday’s negative divergence.
Best to your trading this volatile market!
