Tuesday, January 15, 2013

Market Timing Update (1/15/13)

[EOD] stocks -
Top tracking counts.
(red) wedging higher to complete (Y) of (W)(X)(Y)
(blue) a expanded flat-like pullback is still in progress, potentially with a sudden wave (c) decline
(green) shallow pullback already over, nested 1s/2s up in place for a strong (iii) of [iii] breakout.

[1140am] ES/SPX update -
Potential ABC rebound with C as a wedge/EDT.

[855am] ES update -
On the bearish side, the post-cliff-deal gap is yearning to be filled. On the bullish side, given the amount of time that has passed since the proposed orthodox high (see chart), it's prudent to leave room for an irregular flat (green count in the chart).