Tuesday, June 7, 2011

Market Timing Update (6/7/11)

[EOD] Stocks-
It's unclear whether a five-down from the early June high ended yesterday (which is more bearish) or today's rebound high is a small-degree 4th wave of the proposed five-down.

[1110am] SPX squiggles-

[645am] Overnight update (ES, DX, WLSH)-
Squiggles on Wilshire 5000 are informative. The larger structure from the April high on the corrective side is a flat or a zigzag. For the near term, either the blue wedge is done (or near done) or the decline is extending down per the red labels.