Wednesday, June 30, 2010

Market Timing Update (6/30/10 Close)

Downward price pressures persist, but bullish counts and rebounds are not out of the picture. Chart 1 updates the top counts. Chart 2 offers a squiggle count on the SPX Sept E-mini. The trend channels point to a potential target.

This is the 3rd divergence between EUR/USD and SPX. The first two occurrences resolved to the downside, is this time different?

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