Tuesday, March 29, 2011

Market Timing Update (3/29/11)

[EOD] Stocks -
[1] Please see the 2pm entry below for key observations regarding the near term count from the recent low. There's little to add to that.

[2] The rebound is still on low and declining volume, but breadth is slowing improving (Chart 1).

[3] Technical damages on the daily chart continue to be repaired (Chart 2).

[2pm] Count update(SPX)-
The market is working on the 11-th wave up from the recent low in senior indexes, which is open to both bullish (green) and bearish (blue and red) interpretations.
The red count shows one way to label the recent sell-off as a five - it does not carry across all indexes, but several of them. INDU is a bit more than 100 index points away from invalidating this extremely bearish potential.

[810am] Overnight update (YM, DX) -