Thursday, March 10, 2016

Market Timing Update (3/10/16)

[EOD] Stocks -
The market wants to go up, but the jury is still out. See charts.

[1205pm] SPX/INDU update -
A swift reversal following the bullish triangle (if it is one) breakout in the Dow, filling the opening gap in SPX as well. Near term bullish possibility is an expanded flat (red) in the Dow and a triangle in SPX (green) - lower levels are likely to follow if these fail decisively. See charts.

[950am] SPX/INDU update -
ES did a round trip on the initial surge following ECB news. INDU bearish triangle is busted but produced no new high, while the bullish triangle is live.  SPX gapped up, but yet to produce a new high. See charts.