Tuesday, October 25, 2016

Market Timing Update (10/25/16)

[EOD] Stocks -
SPX filled yesterday's gap as we have discussed with the green line and its MA50 as overhead resistance (Chart 1). Chart 2 tracks potential diagonal triangles and Chart 3 tracks near term trajectories.

Monday, October 24, 2016

Market Timing Update (10/24/16)

[EOD] Stocks-
NDX makes a new high today but remain ambiguous in terms of bias.
SPX gaped and closed above the green line (Chart 1), but below its MA50 (Chart 2). Today's upward gap around 2140 is vulnerable to being filled before the downward gap above around 2165, until SPX can close above MA50 and the red line in Chart 2.
Two potential diagonal triangles (discussed in the weekend commentary) remain on the table (Chart 3). See charts.

[735am] ES update-
Interesting formation. See chart.

Friday, October 21, 2016

MTU Weekend ED. - Three Potential Diagonal Triangles (10/21/16)

Price actions since the August all-time high in SP500 now present three potential (leading or ending) diagonal triangles (DT) at three different degrees, which can partially account for the messy waves since then. See Chart 1.

[blue - the big DT] A contracting DT. In this case, SPX can rise to the upper blue line before reversing.

[red - the medium DT] An expanding DT. SPX is likely to hit the lower red line for its wave E-down.

[green - the small DT] An expanding DT whose detail is shown in Chart 2.

Of course, there are other options for us to keep an open mind. Chart 3 updates.

Market Timing Update (10/21/16)

[325pm] SPX update-
Squiggles deserve an update. See chart.

[110pm] SPX update-
Squiggles from this week's high and near term tracking counts update. See charts.

[920am] ES update-
Pre-market break of a potential HS pattern, which projects a test of the 2105-2110 area if it is not a fake breakdown. See chart.

Thursday, October 20, 2016

Market Timing Update (10/20/16)

[EOD] SPX update-
Very little net progress. See charts.

[1050am] SPX update-
Bull/bear squiggles (Chart 1) and reaction at the green line and potential gap-fill and test of the blue line (Chart 2).

[835am] ES update-
ES is wedging or coiling depending on the perspective. ES has now satisfied the requirement for the red D if an expanding DT is in play. See chart.

Wednesday, October 19, 2016

Market Timing Update (10/19/16)

[EOD] Stocks-
SPX struggled with the green line as discussed yesterday (Chart 1). Chart 2 tracks the near term squiggles. In addition, the potential gray triangle in Chart 2 corresponds to the green wave C(C) in Chart 3

Tuesday, October 18, 2016

Market Timing Update (10/18/16)

[EOD] Stocks -
Overall, it looks like a weak upward gap in SPX today - no higher highs and reaction at the green line resistance (Chart 1). As long as the green line holds, a probe of the green line in Chart 2 looks probable.  SPX closing above the green line makes it possible to fill the gap above. Chart 3 updates the tracking counts.