Friday, May 6, 2011

Market Timing Update (5/6/11)

[EOD] Squiggle update (SPX) -
To accompany the "larger" count on ES, here's a squiggle count on the SPX from today's high.

The decline is proposed to be wave x-down of (b)-up. It is a zigzag down or a double zigzag down, assuming its low is in place.

A more bearish count is that [A]-down of x-down of (b)-up is done, and [B]-up of x-down is tracing out a triangle going into the close.

[340pm] Squiggle update (ES)-

[720am] Overnight update (ES)-