Friday, May 27, 2011

Market Timing Update (5/27/11)

[250pm] SPX squiggles and RUT fractal -
Not sure if point 6 in the RUT fractal is indeed here, but this is the first logical spot.

[Overnight] Stocks(ES) -
Needs to break out of the base channel for the immediately bullish count. Note the approaching long weekend and month end.

[Overnight] USD(DX) -
A critical juncture for the DX ...
The blue count is the "only?" bullish count possible from its low and is not yet persuasive enough until a strong 3rd wave rebound materializes.
The red count has the DX completing a zigzag from its low.