Thursday, July 28, 2011

Market Timing Update (7/28/11)

[EOD] Stocks -
[320pm] ES update -
a follow up to the 725am entry

[12pm] Gold, INDU and NDX ED update -

Gold - potential extended fifth or a fourth wave pullback, zigzag decline from the high so far.
INDU - counts better with one more lower low, but INDU did have 9 waves down from the July 21st high so far.
NDX - expanded flat B-up as discussed in yesterday's update still a possibility.

[725am] Overnight update (ES)-
It'sprobable that yesterday's sell-off in Gold is is wave C of an expanded flat wave (4), invalidation point at yesterday's low.