Thursday, January 7, 2016

Market Timing Update (1/7/16)

[EOD] Stocks -
Mid-to-small cap indexes have breached their Aug/Sep low (Chart 1). SPX filled a downward gap today (Chart 2). The downward thrust is taking shape (Chart 3).

[135pm] SPX update -
SPX finally fills the downward gap. See chart for tracking counts.

[810am] ES update -
Overnight gap fill at 1935 ES. Overnight low of 1931 is around Aug/Sep trend line. See chart.