Thursday, May 2, 2013

Market Timing Update (5/2/13)

[1150am] SPX update -
Two near term tracking counts.
[1] Regular extended wave 5 (Chart 1 purple) or wave C (Chart 1 red).
[2] Expanded EDT wave [v] of purple wave 5 or red wave C. See the red squiggle count in Chart 2.

[750am] ES update -
ES finds current support at MA (Chart 1), counts as blue wave 5 up or red wave 2 up, potential overhead resistance at the lower red EDT edge.


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