Replies to post #119559 on Triple 000 and Sub-penny Chart Plays

[trader53]

S&P 500 - Expected downtrend is underway

The market opened lower today,
bounced to slightly positive,
and then headed lower
after a delay in the Senate health care bill.

Around 1:30 the SPX broke below
the 2431-2454 range we have been tracking,
rallied back to the lower end of that range,
and then headed even lower.

The NDX/NAZ ran into some heavier selling as well.

After weeks of choppy action
it looks like the expected downtrend is underway.

Short term support drops to the 2411 and 2385 pivots,
with resistance at the 2428 and 2444 pivots.

Short term momentum ended the day quite oversold.


MEDIUM TERM: uptrend topped?

LONG TERM: uptrend

https://caldaro.wordpress.com/

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June/July are the Kick-off months, in the OTC.

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Jan/Feb and Jun/Jul - are the Kick-off months, in the OTC.

Trader53's Stock Picks
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=131093452

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