Thursday, July 17, 2014

Market Timing Update (7/17/14)

[EOD] Stocks-
[Chart 1] Lower lows in Midcap and Russell2000 on the daily chart, but not yet in SPX and other indexes.
[Chart 2 and Chart 3] Today's sell-off is potentially a diagonal triangle. Need to confirm if it is a leading decline (LDT, chart 3 red, blue [i]) or an ending capitulation (EDT, chart 3 green, blue C).
[chart 4] The bigger picture.

[1240pm] SPX update-
Near term tracking. See chart.

[840am] ES update-