Tuesday, October 11, 2011

Market Timing Update (10/11/11)

[EOD] Stocks -
SPX managed a higher pivot high today, following INDU and transports and GDOW. Chart 1 refreshes the tracking counts, where there are no changes.
Squiggle counts (Chart 2 (SPX), Chart 3 (ES), Chart 4 (NQ))suggest a nearly completed three wave advance (123-green or ABC-red from the low) if one does not rush the counts. It's possible to count a nearly complete 5-up (blue) if one assumes a w2 somewhere in the part of the most powerful surge.

[1230pm] DAX update at EOD -
DAX squiggles are ambiguous, but remains within the base channel.
[9am] ES, NQ, DAX update -
Larger tracking counts are refreshed in Chart 1 (ES) and Chart 2 (DAX). Squiggle-wise, NQ probably has the cleanest structure (Chart 3), but it started at the lower low compare to ES (Chart 4)

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