Monday, January 24, 2011

Market Timing Update (1/24/11)

The wave structure of INDU may be revealing an extended wave [v] of minor wave 5 based on the blue count in Chart 1 (right). Maximum upside potential is 11988.92 as wave [iii] is shorter than wave [i]. This count also applies to SPX. The green count is another primary possibility. One should leave room for the green wave [v] of 5 to extend as well.

Chart 2 to Chart 4 update top counts in SPX, NDX and Transports.

[8am]Overnight update (ES) -