Thursday, October 23, 2014

Market Timing Update (10/23/14)

[905pm] ES update -
ES reacts to NY ebola headline. Tracking counts. See chart.

[EOD] Stocks-
Stocks are negotiating the primary resistance trendline line and the MA50 (Chart 1). SPX turned down a few points below its MA50 today, which might be too convenient. It's possible that we have not seen the end of this leg of advance -something like the green count in Chart 2?





[810am] ES update-
ES is making another attempt to breach the initial bearish trend line and the MA50 (chart 1) to complete a potential 5th wave which should be capped at 1978.25 if wave three is not extending (Chart 2).


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