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Replies to post #111126 on Triple 000 and Sub-penny Chart Plays
trader53
03/20/17 2:28 AM
#111208 RE: trader53 #111126
Friday / Saturday Update Posted on March 17, 2017 ____________________________________________________________ LONG TERM: Uptrend A New Bull Market - Primary III Underway We are currently expecting SPX 3,000+ in the next 2 to 4 years ____________________________________________________________ MEDIUM TERM Uptrend SHORT TERM: indecisive options expiration, DOW -20 ____________________________________________________________ The market opened a few points higher today, pulled back, then made a higher high at SPX 2386 just past 2pm. After that it pulled back into the close, ending a trendless option expiration Thursday/Friday. Short term, not much has happened since Wednesday’s SPX 2390 high and the small pullback over the past two days. Still waiting for this rally to make new highs in the SPX/DOW, which has already occurred in the NDX/NAZ. The count we have been tracking is that Nano wave v of Micro 3 is underway. When it makes new highs and concludes, Micro wave 3 would have ended. Then after a Micro wave 4 pullback, a Micro 5 rally should complete Minute wave iii. If you are still following, a Minute iv pullback will then lead to a Minute v rally and the end of the Minor wave 3 uptrend. Then the market should enter a downtrend and decline at least 5%, maybe more. Short term support remains at SPX 2353/55/58 and the 2336 pivot, with resistance at the 2385 pivot and SPX 2401. Short term momentum ended the week below neutral and heading to oversold. Best to your trading next week! Trade what is in front of you!