Wednesday, August 31, 2011

Market Timing Update (8/31/11)

[EOD] Bonds -
A potential triangle in bonds?

[EOD] Stocks -
Please see [310pm] and [346pm] entries for thoughts on SPX - could be working on the blue [v]-up towards the trend channel. Here's a potential expanding EDT in ES.

[346pm] SPX update -
unless this is a 12/12 down set up, the decline appears corrective. see the 2nd chart below. Month End.
[310pm] SPX update -
[11am, 1110am] SPX and ES update -
[740am] ES update -
month end. ES approaching the limit of wave four if it is one (chart 1). The upper trend channel line is attracting price (chart 2).