Thursday, January 8, 2015

Market Timing Update (1/8/15)

[EOD] Stocks-
First upward gap of the current upswing. HS target and a prior unfilled gap above (see 745am update). See charts for tracking counts.

[745am est] ES update-
ES surge overnight is likely to gap SPX cash over resistance at the open. The green count on ES tracks a fully extended impulse up from its low and the blue count is much more moderate. If the gap up is holds, a potential IHS in SPX cash targets 2065-2075. Note that there is an unfilled gap in SPX and ES around 2080-2090 above. See charts.