Wednesday, September 5, 2012

Market Timing Update (9/5/12)

[EOD/340pm] Stocks -
Chart 1 (blue) shows a potential 4th wave drawing to an end with a potential EDT. Trend line support rests around 1380-1390. Chart 2 presents tracking counts on squiggles.

[11am] SPX update -
Tracking counts to mirror those in ES (see 8am entry below).  Also keeping an eye on the larger picture - bullish wedge or bearish descending triangle?

[8am] ES update -
Bullish wedge C (blue) and bearish terminal triangle 2/B (red)