Thursday, March 18, 2010

Market Timing Update (3/18/10 Close)

This small degree wave [4] since the Feb 25th low has either one more lower low to make or has ended at today's low (Chart 1). Price actions in the e-mini contract could use a lower low to complete wave [4]. Not ruling out a series of 1s and 2s either.

On balance, the rise from today's low is not very impressive so far. Chart 2 offers the bullish and bearish squiggle counts on SPX cash regarding the advance from today's low.

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