Tuesday, October 23, 2012

Market Timing Update (10/23/12)

[EOD] Stocks -
Rebound from the day's low hits neckline resistance. see chart.
[1005am] SPX update -
Larger count in Chart 1 and squiggles in Chart 2.

[9am] ES update -
Overnight session decline is likely a small degree 5th wave (Chart 1 blue) to wrap up the proposed [a] of C or C itself (Chart 2 red). Top alternative count is wave [iii] down of an extended C-down to complete a large flat-like structure (Chart 1 red).