Replies to Post #111208 onTriple 000 and Sub-penny Chart Plays

Replies to post #111208 on Triple 000 and Sub-penny Chart Plays

Replies to #111208 on Triple 000 and Sub-penny Chart Plays

03/21/17 3:57 AM

S&P 500 - for Tuesday, March 21, 2017

https://caldaro.wordpress.com/

Monday Update

Posted on March 20, 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: lower open pullback continues, DOW -9

____________________________________________________________

The market opened lower today,
bounced to turn positive in the first hour of trading,
then resumed the pullback
that started last Wednesday from SPX 2390.

From the SPX 2355 Nano wave iv low on March 9th,
we now have a choppy advance:
2377-2355-2390-2370 so far.

Normally this would suggest Nano iv
is still underway.

However, when reviewing the SPX hourly chart
this type of pattern
is exactly how Nano wave iii began.

With that in mind
we maintain the count as is,
and await further short term market activity.

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
hit oversold at the low,
and ended the day just above it.

Best to your trading!