Wednesday, June 26, 2013

Market Timing Update (6/26/13)

[EOD] Stocks -
SPX has approached the fib-0.5 retrace of the recent plunge (Chart 1). This is a logical area to conclude the red (ii) upswing if it is one. The rebound from the low can be counted as a complete zizag (Chart 2, red). Bullish counts place the current high as the green wave (iii) or the blue wave iii of (iii). A retest of the 1590 area (blue line) appears likely.

[720am] ES update -