Friday, August 8, 2014

Market Timing Update (8/8/14)

[1055am] SPX update -
Done or Not Done update. Updated charts below from yesterday's PS update. It is decision time for SPX. See charts.

[720am] ES update -
Last trading session before full moon on Sunday. ES "crashed" to a new low overnight - completing a small 9-wave decline from yesterday's high. Tracking counts in Chart 2. The overnight low can be potentially the red 5 or green C - a meaningful rebound next in this case. The overnight low can also me wave [d] of an further extended (blue) wave 5 or (green) wave C - watch for wave [e]-down of a potential EDT in this case. See charts.

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