Tuesday, October 16, 2012

Market Timing Update (10/16/12)

[EOD] Stocks -
see 2nd chart below, updated squiggles.
[2pm] SPX squiggles -
Decent stylized waves so far, see chart.

[1130am] SPX update -
SPX squiggles (Chart 1) and ES potentially wedging (Chart 2).

[810am] ES update -
We likely have a proper five-up from the nominal low in ES. The retrace is approaching the 0.618Fib mark. See chart.