Wednesday, July 20, 2011

Market Timing Update (7/20/11)

[EOD] Stocks -
Incorporating SPX, ES, and INDU, here are the two top tracking counts.
On the squiggle level, it's possible (but not necessary) that today's action is a small degree 4th wave, implying one more push higher to complete a five from the recent low.

[820am] Overnight update (ES) -
Bullish count (blue), bearish count (red) as discussed in yesterday's 330pm entry - Leave room for the end of an expanded flat rebound (red) or a small degree 2nd wave retrace (blue).