Friday, January 25, 2013

Market Timing Update (1/25/13)

[130pm] SPX update -
tracking counts. see charts.

[815am] ES update -
Chart 1 - The red support line has held so far. Monitor for a breach for potential confirmation of the next down swing. Wave-wise, the overnight low counts well as a 4 wave (green or red (off the 2nd B-traingle, not shown) or a small-degree 4th wave/D wave of an expanded EDT (for the green 3 or red C).
Chart 2 - Daily chart. ES is attempting to breakout of the base channel. ES has retested it twice on squiggles so far.