Friday, December 2, 2011

Market Timing Update (12/2/11)

[845am] ES update -
Double zigzag or impulse up from the Nov low in ES (Chart 1). Note the larger counts in Chart 2.

[830am] DAX update -
Prepare for truncation or extension. As Chart 1 shows, if the small-degree wave (iii) off the Nov Low does not extend, wave (v) is capped by 6422.08, which is shy of the Oct high (Chart 2).  Note in Chart 2, the subjective primary count is the blue, which is a double-three, with the pending high as A of the second three.