Friday, October 5, 2012

Market Timing Update (10/5/12)

[1025am] SPX/INDU squiggles -
The Dow made a new high. SPX is approaching a new high. But it's prudent to leave room for a 3-3-5 flat from the recent low. See chart.

[850am] ES update -
Whether ES can break above (and hold) the potential "base channel" would be informative about the bull and bear counts. See chart.