Monday, April 11, 2011

Market Timing Update (4/11/11)

[EOD] stocks -
Expanding triangle proper in SPX or triple-three in SPX and INDU, if working on the assumption of a corrective pullback, degree uncertain.

The ES chart shows a similar count.

[iv] is still on the table but getting stretched in time as well as in magnitude (nearly). If the decline continues, [ii]-down are [y]-down are possibilities.

[105pm] Count update (SPX) -
Wave [iv] can accommodate one lower low but probably no more than that.