Thursday, December 1, 2011

Market Timing Update (12/1/11)

[806pm] ES update -
Potential triangle still in progress. Let's see which way it breaks.










[215pm] ES update -
Potential triangle or flat 4th wave in ES. See 2nd chart below.Odds favor a flat/double three in SPX cash index.

[1145am] DAX squiggles at the close -


[835am] ES update -
Unlike DAX, the proposed 3rd wave off the recent low in ES is longer than the 1st wave.
[735am] DAX update -
Note the proposed 3rd wave off the recent low in the 2nd chart is shorter than the 1st wave.   This limits the upside potential for the 5th wave if one materializes, unless it is wave i-up of (iii)-up.
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