Monday, May 23, 2011

Market Timing Update (5/23/11)

[EOD] Stocks and USD -
For the very short term, today's low is either a local low or wave b of an upward expanded flat wave 4-up of the decline from the May 19th high (see the 225pm entry below).

Regarding the larger count, today's sell-off potentially validates a bearish leading diagonal (red) or a bullish ending diagonal (to a running flat at a couple of degrees: green, blue). To illustrate, see the Chart 1.

Updated USD squiggle count (Chart 2).

[225pm] ES update -
wave 4 expanded flat or local low in place.

[1025am] Count update (SPX and RUT fractal)-

[730am] Overnight Update (ES, DX) -
blog comments powered by Disqus