Monday, May 16, 2011

Market Timing Update (5/16/11)

[EOD] Stock -
An A-B-C corrective decline is potentially approaching its end as indicated in the 2nd chart below. The chart to the right offers a similar count on ES.

On the bearish side, here's a squiggle count chart of the Feb-Mar sell-off in ES, do you see a "You Are Here" ?

https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEitepxGHsV_aiGvQ1awes1wJPjA7IjJJMfKbk4v128ZnNpxE2n8kc7t1_WX76gsnHr7JFERgX7iYwhcm7O9AEaeQckhGpgdGTlRZFe8RXbC3p0Wj4SlOYJOGMToVMAMsnf7Hvo-3cGbPoU/s1600/esm1-20110316-2200.JPG


[250pm] Squiggle update (SPX) -
[730am] Overnight update (ES) -