Friday, April 20, 2012

Market Timing Update (4/20/12)

[1245pm] SPX squiggles -

[845am] ES update -
Morning setups-
(red - bearish) An [a][b][c] rebound ended on Apr 19, the next leg down is in progress.
(blue - semi bullish) A larger [w][x][y] rebound is in play (could be B-up of a triangle/flat/combo off the early April high). Yesterday's low is [x] or [x] has one more leg down. The Apr low holds for the near term.
(green - bullish) A LDT wave 1-up off the April low is in play (with some chance of a 1/2/1/2 setup). The current upswing is [e]-up of the proposed LDT.