Friday, November 11, 2011

Market Timing Update (11/11/11)

Note - Each count is usually color coded.

[EOD] Stocks -
tracking counts, see the 2nd chart below.
[1410pm] VIX update -
Speaking of triangles (again) -  Here are a couple of counts on VIX that please bulls and bears alike.

[1015am] Count update -
Will continue to focus on INDU as it shows clearer wave structures.
The bullish count has the decline as a 4th wave (green), a 2nd wave (green)or a sideways X wave (blue).
The bearish count has the decline as a deeper X wave (blue) or a trend reversal (red)

[810am] ES, NQ update -
Speaking of triangles - while there appears to be a developing triangle in ES (chart, left, below), the low could very well be in place given a (more) complete potential triangle in NQ (chart, right, below).

Otherwise, see various tracking squiggle counts on ES in the chart to the right. 1/2/1/2 bearish and bullish, LD bullish, some kind of x wave (or even ED) bearish.  For cash charts, see yesterday's EOD update.

[750am] DAX, FTSE, GDOW update -
As discussed yesterday, DAX has satisfied the minimum requirement of an ABC correction (so has GDOW). Let's see if this decline gets more complex or time consuming or impulsive.