Wednesday, June 8, 2011

Market Timing Update (6/8/11)

[EOD] stocks -
Some kind of ED 5th wave down or a flat 4th wave up in progress, regarding squiggles. See 250pm entry for additional thoughts.

At today's low in SPX, [c]=1.153[a] if it is a zigzag, [c]=1.302[a] if it is a flat, since the Apr/May high.

[250pm] Count update -
Assume we follow the WLSH count and assume price data on WLSH is correct
-see the green lines behind SPX bars in the first chart
-see 940am entry for a count on WLSH
we likely have a upward expanded flat wave (iv) in cash and a flat wave (iv) in ES. The immediately bearish alt is labeled in RED.

[1250pm] ES squiggles -
a potential triangle in ES/SPX, see second chart below

[940am] Tracking squiggles (WLSH) -
green - double zigzag-like; blue - zigzag-like; red - flat or topped-and-down-we-go
[910am] Overnight update (ES) -