Wednesday, February 24, 2016

Market Timing Update (2/24/16)

[EOD] Stocks-
SPX retests and bounces off the blue "line in the sand", filling two upward gaps in the process (Chart 1). Tracking squiggles on the intraday rebound (Chart 2) and the rebound from 1810 (Chart 3). 

[225pm] SPX update-
5-up or double zigzag in an attempt to fill today's gap. Nested 1s2s a possibility if the upswing runs. See chart.

[9am] ES update-
Now a larger 5-wave decline from the rebound high in ES. Tracking count from the low. See chart.



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