Friday, September 23, 2011

Market Timing Update (9/23/11)

[1pm] Gold and USD update -
Gold - a sharp decline
DX - looks toppy

[1130am] DAX and ES update -
DAX closed with its prior low intact, whether the rebound is a small-degree fourth wave remains to be seen.
The rebound in ES this morning is so far a zigzag, whether its a 1/2/[i]/[ii] setup remains to be seen.
[9am] ES and DAX update -
Majors at the brink of breaking down. Various options on the table. Let's see if the overnight low holds.