Tuesday, February 1, 2011

Market Timing Update (2/1/11)

[EOD] stocks and the dollar The following three charts update the primary and alternative tracking counts on SPX since the July 2010 low. At the close, a small degree 4th wave is likely still in progress, to be followed by a small degree 5th wave higher. The chart to the left offers a squiggle count on ES.

The USD index made a lower low in what appears to be the 5th wave down from the recent high.

[1050am] USD update-
USD index approaching the end of a five down.

[920am] Overnight update (ES, NQ)-