Friday, April 29, 2016

Market Timing Update (4/29/16)

[EOD]Stocks -
Interesting waves and additional technical damage to the upswing. Still 3 waves down to today's low. See charts.

Thursday, April 28, 2016

Market Timing Update (4/28/16)

[EOD] Stocks -
Three wave decline so far from the high (Chart 2),delivering some technical damage to the upswing. See charts 1-4.

[8am] ES update -
ES potentially to probe the blue line and gap SPX down the open. See charts.

Wednesday, April 27, 2016

Market Timing Update (4/27/16)

[EOD] Stocks-
MidCap made a new upswing high, leading or catching up? (Chart 1). SPX near term tracking (Chart 2) and bull/bear tracking of the upswing (Chart 3 and Chart 4).

[1130am] SPX update-

Tuesday, April 26, 2016

Market Timing Update (4/26/16)

[9am] ES update-
Interesting juncture. See chart.

Monday, April 25, 2016

Market Timing Update (4/25/16)

[EOD] Stocks -
It is interesting that SPX came close to but was unable to close the downward gap during the day-session (Chart 1) - the gap is closed shortly after the close. It is also interesting to note that the gap is in a location where today's bounce could serve as a kiss of the prior base line IF a meaningful pullback is in progress (Chart 2).  As discussed in ABC-down Looming (4/22/16), near term wave structures can support a minor higher high near term if the market chooses to do - which remains the case given today's price action.

Friday, April 22, 2016

MTU Weekend Ed. - ABC Down Looming (4/22/16)

Momentum of this impressive upswing is now waning and negative divergence is present on the daily SPX chart. We track the recent high at or near the end of a potential ABC-up or A-up (Chart 1). A potential ABC decline is likely looming. The gray path in Chart 1 tracks a small-degree ABC decline, and the blue path a larger degree ABC decline. The 2020/2040 area likely offers (initial) support.

The 30-point drop in SPX this past week presents a potential five-wave decline (Chart 2). Hence, the pullback may be in progress. Confirmation is needed as price patterns can support a minor higher high near term if the market chooses to do so (Chart 3 and Chart 4). Either way, a larger pullback is likely in sight.

Market Timing Update (4/22/16)

[1055am] SPX update-
A visual/potential 5-wave decline in SPX at the moment. See chart.