Replies to post #152325 on Triple 000 and Sub-penny Chart Plays

[trader53]

S&P 500 - Symmetrical Triangle

for Thursday, April 26, 2018

Symmetrical Triangles - Explained
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=139529217

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Wednesday update

Posted on April 25, 2018

by tony caldaro

REVIEW

https://caldaro.wordpress.com/


LONG TERM: Uptrend


MEDIUM TERM: Downtrend

Intermediate wave iv
could have completed in February,
after a 12% selloff ended
with positive RSI divergences everywhere.

The market rallied about 10% into March,
did not make a new high and then failed.

A retest of the low
occurred right on the first trading day of April.

Again with positive divergences.

But the market has again
failed to sustain an impulsive rally
off those lows.

We are still expecting at least one more uptrend,
and series of new all-time highs.

Medium term support
remains at the 2656 and 2632 pivots,
with resistance at the 2731 and 2780 pivots.


SHORT TERM:


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http://stockcharts.com/h-sc/ui?s=%24SPX&p=D&yr=3&mn=0&dy=0&id=p16291900332



















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