Thursday, November 15, 2012

Market Timing Update (11/15/12)

[EOD] Stocks-
On the ES, waves appear reasonably complete. ES counts better as a double zigzag from the Oct 18th high (Chart 1, black). Chart 2 updates tracking counts on SPX.

[1230pm] SPX update -
Perspective. See charts.

[635am] ES update -
ES retraced about Fib-50 (Chart 1). Count on the 60-min bars suggests a swing low is in sight (Chart 2).