Monday, August 20, 2012

Market Timing Update (8/20/12)

[EOD] Stocks -
The converging EDT in the 5-min chart is not technically a valid one, but it is something to keep an eye on.

[835 am] ES update -
ES is bogging along support and resistance and let's see which one breaks first. Chart 1 tracks the larger count. Chart 2 shows the squiggle count associated with the most bullish scenario.  Also see New 2012 High (8/17/12) for additional discussion.