Friday, December 14, 2012

Market Timing Update (12/14/12)

[955 am] SPX update -
A five down in SPX from the recent high (Chart 1), but unconfirmed by the Dow. Chart 2 shows the top tracking counts. The blue count, a five-up to the recent high, is interesting as it can be applicable to the Dow with minor shifts of the labels.

[810 am] ES update -
Potential short term support around a near term trend line (chart 1), which coincides with a fib-236 retrace (chart 2).