Monday, November 22, 2010

Market Timing Update (11/22/10)

Chart 1 updates the three tracking count on ES. Odds appear to favor at least a continuation of the rebound from today's low. See Fourth Wave Consolidations (11/19/10) for additional discussions.

The squiggle count from today's low is somewhat ambiguous. Chart 2 offers three counts. The green count has the best form but its iii of (i) appears a bit forced in SPX, but less so in INDU. Tomorrow's price action will help clarify the squiggles.

[Real Time Update]
Archived at MTU Real Time.