Thursday, April 7, 2011

Market Timing Update (4/7/11)

[EOD] Stocks -
No change to the counts and observations in the 320pm entry. Here is an updated chart for the SPX cash index.

[320pm] Futures offer some clarity(ES,YM)-
[335pm] And here is a potential structure in SPX to end wave [iv] if certain lows hold.

Today's low may or may not hold but is a logical place to register the low for wave [iv] by a number of guidelines per the bullish count.
In any case, the recent high is likely wave [iii] per the bullish count or the end of wave [x] per the bearish count.

[1055am] Count update (ES, SPX)-
spike down on news of another 7.4 earthquake in Japan and tsunami warning.

[730am] Overnight update (ES, Copper)-