Replies to post #153448 on Triple 000 and Sub-penny Chart Plays

[trader53]

S&P 500 - Symmetrical Triangle

for Thursday, May 03, 2018

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

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Wednesday update

Posted on May 02, 2018

by tony caldaro

REVIEW

https://caldaro.wordpress.com/


LONG TERM: Uptrend


MEDIUM TERM: Downtrend

We continue to track two possible scenarios:

triangle and double three .

The triangle
suggests a rally about SPX 2717
before the SPX drops back to the 2550’s again.

A double three
suggests the market trades lower,
without rallying to 2717,
to complete the pattern in the low to mid 2500’s.

Either way
it looks like more choppy action ahead.

Medium term support
is at the 2656 and 2631 pivots,
with resistance at the 2731 and 2780 pivots.


In January 2018,

Minor wave 5 completed,
along with Intermediate wave iii,
and an Intermediate wave iv correction began.

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

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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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