Wednesday, April 20, 2011

Market Timing Update (4/20/11)

[EOD]Stocks, VIX, DX, Euro -
after hours advance in ES shown.
Vix and USD at fresh lows of the hope rally.

[1030am]Count update (SPX) -
INDU made a new high, other indexes are lagging at the moment.

[Overnight update] USD, ES -

DX fell to 74.30 at the moment. The top candidates for the long term tracking count are the blue and purple counts in Chart 1 below. Chart 2 below offers two near term tracking counts.

Stocks surged overnight, consistent with a third wave advance, with the dow and ndx futures nearly making new highs.