Tuesday, January 18, 2011

Market Timing Update (1/18/11)

[EOD] Additional upside potential exists at "tiny" degrees. The rally into the close is likely the end of a small degree 3rd wave. ED for (v) of [v] of 5 (or v of (v) of [iii]?) in SPX and INDU is a possibility. Futures (especially NQ)advance on Apple earnings in AH.

[720am] Overnight update -
In ES, the revised black count is low aligned with the green count outlined yesterday. The main difference between these two counts is where [iv] of 5 is labeled.
In YM, the proposed rare expanding diagonal discussed in yesterday's update is tracking.