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Replies to post #110861 on Triple 000 and Sub-penny Chart Plays
Thursday Update
Posted on March 16, 2017
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LONG TERM: Uptrend
A New Bull Market - Primary III Underway
We are currently expecting SPX 3,000+
in the next 2 to 4 years
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MEDIUM TERM Uptrend
SHORT TERM: higher open then pullback, DOW -16
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The market opened a bit higher today,
hit SPX 2388,
pulled back to 2378 by late morning,
rebounded some,
and then pulled back to 2377 at 3pm,
before ending the day at 2381.
At today’s low
the market had pulled back 13 points
from yesterday’s high.
A meaningful for day traders,
but not so much for this wave counter.
With most of the economic news for the week
now out of the way.
The last determining factor for this week,
is whether or not option expiration’s impact
occurred today,
or will occur tomorrow.
With today’s pullback,
after yesterday’s rally,
it could have already occurred.
Short term support
is at SPX 2353/55/58 and the 2336 pivot,
with resistance at the 2385 pivot and SPX 2401.
Short term momentum
declined to neutral during today’s pullback.
Trade what is in front of you!
