Thursday, November 10, 2011

Market Timing Update (11/10/11)

Note - Each count is usually color coded.
[EOD] Stocks -
Market closed before waves can develop. The various options presented in the 340pm entry remain on the table.  The following charts illustrate.
(Red - bearish) expanded flat with a potential EDT wave c-up.
(Green - near term bearish) wave [b]-up of a corrective decline either ended at today's high or will end with a post-triangle upward thrust.
(Blue - near term bullish) Leading diagonal triangle yet to be completed. Possible 12/12/... set up.

[340pm]INDU update -
Potential post-triangle thrust up, or wave 5 up of an LDT/EDT into the close. see the 2nd chart below.
[215pm]INDU update -

[1140am]Europe update at the close -
DAX and FTSE - see charts

[840am] ES update -

[650am] DAX update -
Dax has satisfied the minimum requirement of a low. Let's see if the decline gets more complex of impulsive.  Note the wedge possibility too.