Friday, November 19, 2010

Market Timing Update (11/19/10)

[4pm] Stocks
We have a nearly complete five up from this morning's low, as well as a nearly complete five up from the Nov 16th low. In terms the larger count, this leg of advance would be either a of [b] of minor wave 4-down or [i] of minor wave 5-up. To a lesser degree, it could possibly be (a) of [ii]-up under the bearish count (red), but the sub-divisions of [i]-down is not obvious.

[1020am] -----------------------------[302pm]
[730am] Stocks appear to have completed an upward flat or the first three waves of an impulse from the Nov 16th low. Leave room for that low to be [a] of 4, or 4 itself. A bearish nested 1s2s is not totally out of the picture - see the red count on ES.

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