Tuesday, May 18, 2010

Market Timing Update (5/18/10 Close)

Stock and Gold Update

After-hour stocks (850PM) -

4PM Stocks- The bearish P3-type count has been on track so far. However, the indices did not make a lower low today, which leaves a number of options on the table as usual. Chart 1 offers the big picture count.

As one can see in Chart 2, the decline in SPX from today's high - potentially (ii)-up of [i][1]3-down - has been a zigzag (which may very well be the first 3 waves of an impulse) so far.

4PM Gold- Chart 3 and Chart 4 offer a near term count on Gold, which has suffered some volatility of its own.

blog comments powered by Disqus