Market Data 
Markets
Replies to post #89251 on Triple 000 and Sub-penny Chart Plays
Thursday Update
Posted on June 9, 2016
LONG TERM: Neutral
MEDIUM TERM: Uptrend
SHORT TERM: lower open then rebound, DOW -20
The market opened lower today,
pulled back to SPX 2108,
and then rebounded.
The pullback from yesterday’s SPX 2121 is small,
so far,
but a notable pullback nonetheless.
Should the market dip below SPX 2100,
then a retest of the 2085 pivot is possible.
If not,
we would expect the market
to be making new uptrend highs soon.
Short term support
is at the 2085 and 2070 pivots,
with resistance at the 2131 pivot.
Short term momentum
declined to oversold and then rebounded past neutral.
Best to your trading!
Friday Update
Posted on June 10, 2016
LONG TERM: Neutral
MEDIUM TERM: Uptrend
SHORT TERM: market gaps down at open heads lower, DOW -120
The market gapped down at the open today
for the first time
since last Tuesday’s pullback to SPX 2085.
In the opening half hour
the market dropped below SPX 2100,
stayed in a 7 point range for three hours,
then broke lower into the 2085 pivot range.
After hitting SPX 2090 the market bounced into the close.
For those counting this decline
we have three waves down: 2108-2118-2090.
Short term support
remains at the 2085 and 2070 pivots,
with resistance now at SPX 2121 and the 2131 pivot.
Short term momentum
was quite oversold at the low.
Best to your weekend!
AI
