Tuesday, August 10, 2010

Market Timing Update (8/10/10 Close)

For stocks, yesterday's high and today's low are key levels. On balance, odds favor new highs before minor wave 2-up is done. Three top counts for now (see Chart 2 on $WILSH).

[Red] Up to new highs. [3]-up of the final five is in progress.
[Blue] Is the wave b pull-back tracing out an expanding triangle?
[Green] The top is in. The rebound from today's low is an upward flat

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