Tuesday, October 9, 2012

Market Timing Update (10/9/12)

[EOD] Stocks -
A larger zigzag decline from the recent high. While it is possible to count a five-down from the high, it likely remains an alternative count. NDX made a lower low, would the broader market follow with a small-degree 5th wave down?
[1105am] INDU / NDX update -
Approaching potential near term support. The lower low in NDX offers a hint that the correction since the Sept high is likely still in progress, potentially sideways. See chart

[920am] ES update -