Wednesday, May 14, 2014

Market Timing Update (5/14/14)

[EOD] Stocks-
We have a five-wave decline in SP500 from its new all-time high (Chart 1 red), with the potential to morph into a seven-eave drop (Chart 1, blue). Today's decline retests various recent breakout zones (Chart 2) and introduces yet another potential wedge (Chart 2 blue).

Chart 3 shows how these fit into the larger pattern.
[805am] ES update-
ES retesting its breakout area. See charts.


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