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Thursday, August 14, 2014
Market Timing Update (8/14/14)
[130pm] SPX/NDX update -
Eying the 0.618-fib retrace and second gap fill on the upside (green) AND the completion of a double zigzag rebound on the downside (red). NDX has effectively filled its gap but is also kissing its breakdown trend line. See charts.
[9am] ES/NQ update -
Chart 1 tracks a visual three wave rebound in ES, with various near term options. The wave structure of NQ is interesting (Chart 2).