Thursday, November 15, 2018

Wednesday, November 14, 2018

Market Timing Update (11/14/18)

At today's low, SPX likely completed a five-down from its 2815.15 high (Chart 1).  A double zigzag-like structure is the alternative (Char2), but a three-wave rebound from today's low and the ES structure tend to support a five-down.

Monday, November 12, 2018

Market Timing Update (11/12/18)

SPX lost its SMA200 again.  Note that both SMA50 and SMA200 are now sloping downward.
The current drop counts well as an expanding diagonal triangle (LDT?) in ES and a regular five in SPX cash.

The following chart show how it fits the bigger picture - see Structure Update (11/9/18) for details.

Friday, November 9, 2018

MTU Weekend Ed. - Structure Update (11/9/18)

SPX retraced to 0.618 of its decline and regained its SMA200 on Wednesday, retested the SMA200 on Friday and rebounded off it.  (Chart 1)
The recent high is likely the first leg of rebound (red [a]) or the wave [c] of an expanded flat (blue 2 or B) (Chart 2).  There are two gaps above and two gaps below.  The nearest dynamic support is around 2733 and the nearest  dynamic resistance is around 2795.

Wednesday, November 7, 2018

Market Timing Update (11/7/18)

SPX regains SMA200 and is eying SMA50 resistance.  At the moment, the upswing from the nominal low counts better as a single impulse than an ABC (Chart 1).  The bigger structure is shown in Chart 2.

Friday, November 2, 2018

MTU Weekend Ed - Mid-Term Structure (11/2/18)

SPX is probing is SMA200 resistance.  The nearest dynamic support is around 2560 and the nearest  dynamic resistance is around 2798.
Mid-term structure, hopefully a picture is indeed worth a thousand words.