Wednesday, July 23, 2014

Market Timing Update (7/23/14)

[910am] ES update-
"Breakout" support in ES held overnight at 1972.25. An inverse H&S with respect to the green neckline a possibility if the market chooses to deliver - right shoulder to around 1950. See chart.


Tuesday, July 22, 2014

Market Timing Update (7/22/14)

[EOD] Stocks-


[1250pm] Transports Update-


Monday, July 21, 2014

Market Timing Update (7/21/14)

[EOD] Stocks -
Can recent divergence among indexes be accounted for by EDTs and terminal triangles? Here's a visual and a close-up. See charts.



[810am] ES update -


Saturday, July 19, 2014

MTU Weekend Ed. - Short Term Update (7/18/14)


Interestingly, although the Dow, the Dow Transports, and the Nasdaq 100 Index made new highs this past week, the early July highs held in other benchmark indexes, including the Nasdaq Composite Index. See Topped? (7/11/14).

This near term divergence among benchmark stock indexes suggest the following tracking scenarios. See Chart 1.

[red] Thursday's low (1955.59 in SP500) is the low of an initial leading diagonal triangle from an orthodox high. Friday's deep retrace/rebound is consistent with the nature of an LDT.  An immediate rolling over is in order.

[blue] An ABC pullback from the early July high either completed at Thursday's low or is still in progress. Thursday's low is either all of wave C-down or wave [i]-down of wave C-down.



Friday, July 18, 2014

Market Timing Update (7/18/14)

[740am] ES update-


Thursday, July 17, 2014

Market Timing Update (7/17/14)

[EOD] Stocks-
[Chart 1] Lower lows in Midcap and Russell2000 on the daily chart, but not yet in SPX and other indexes.
[Chart 2 and Chart 3] Today's sell-off is potentially a diagonal triangle. Need to confirm if it is a leading decline (LDT, chart 3 red, blue [i]) or an ending capitulation (EDT, chart 3 green, blue C).
[chart 4] The bigger picture.


[1240pm] SPX update-
Near term tracking. See chart.

[840am] ES update-


Wednesday, July 16, 2014

Market Timing Update (7/16/14)

[EOD] Stocks-

[950] SPX/ES update-
Near term tracking counts (by color). A potential expanding EDT and flat look interesting. See charts.