Monday, June 25, 2012

Market Timing Update (6/25/12)

[EOD] Stocks -
Chart 1 updates the squiggle count with a potential small-degree 4th or B wave into the close on the bearish side or a potential nascent rally/rebound on the bullish side.

Chart 2 updates the larger count for the Hope Rally (See recent weekend editions for discussion). As such, the bull/bear tug-of-war is still in progress. Let's see which one is more on track.
The red c-down represents the bearish count.
The blue/green counts are bullish, with the current downswing potentially just a retest of the gray "base-channel".

[1010am] SPX squiggles -

[915am] ES update -
Various tracking counts. See Retesting or Rolling Over (6/22/12) for discussions. Top candidates for the overnight decline in ES are small-degree 5th, C or B of an expanded flat/triangle.