Thursday, February 23, 2012

Market Timing Update (2/23/12)

[EOD] Stocks topping-
Please see yesterday's EOD update for tracking counts on INDU.  The following chart counts the number of impulse waves since the Dec low on SPX and their channeling characteristics (- traditional  not new-age.) 

These counts put SPX at a topping area either from the Dec low or from the Nov low.   An updated chart will be posted after the close IF there are substantial development - i.e. a higher high is made.

[x] The Feb 21st high is likely  either red #9 (which logically is [iii]-up) or purple #7 (which logically is [v]-up)

[x] If there should be a higher high, that high is likely either green #9 (which logically is [iii]-up, v of (v) of [iii] is an expanding EDT) or purple #11 (which logically is [v]-up, a contracting EDT).


[9am] ES update -
ES topping. Also see yesterday's EOD update for thoughts.




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