[340pm, EOD ] Stocks -
340pm - The green bullish count in INDU is intriguing (Chart 1, below), although it does not work well with SPX. At the moment, the market is at the overthrow territory of a potential EDT and at the mid-channel line. More after the close.
4pm - (Subjective) primary count is that a wave [x]-down retrace is still missing (c)-down. The recent advance is (b)-up of [x]-down, perhaps better seen in GDOW (Chart 2, below). While US stocks have retraced deeply in October and November, the "broader" GDOW has not yet done so.Given the deep retrace in US and UK, I'd be monitoring London FTSE (Chart 3, right) for signs that negate the bearish count (i.e. Hope Rally is over - See the corresponding section in Intermediate Term Count Update (11/4/11)).
[1255pm] SPX/ES update -
[1130am] DAX at the close -
[725am] DAX, ES update -
Small degree C or 3 in progress in both DAX and ES
