Replies to post #92523 on Triple 000 and Sub-penny Chart Plays
Monday Update
Posted on July 18, 2016
LONG TERM: uptrend
MEDIUM TERM: uptrend
SHORT TERM: market drifts higher to start week, DOW +17
The market opened higher today,
dipped,
then drifted up for the rest of the day.
Not much activity for the past two trading days
as the market appears to be consolidating recent gains.
We continue with the same short term count:
i – ii,
and
1-2
with 3 underway.
Pullbacks have been small
(10-13 pts.)
since the wave 2 low at SPX 2089.
With the ECB and earnings on deck this week
doubt this market will stay quiet for long.
Short term support
is at the 2131 and 2085 pivots,
with resistance at the 2177 and 2212 pivots.
Short term momentum
ended the day just below overbought.
Best to your trading!
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