Monday, January 9, 2012

Market Timing Update (1/9/12)

[EOD] Stocks-
For the near term, the subjective primary count is the green ascending triangle [b] wave in Chart 1. The market likely just completed a complex (boring) wave (d) of the proposed triangle. The Jan 5th low is the key pivot associated with the count.

Chart 2 zooms out and refreshes the larger degree subjective primary count.

[1pm] SPX update-
The counts are getting creative with this tight range. The primary count is the green count, subjectively speaking. Otherwise, bearish to quite bearish.

[630am] DAX, ES update-
Potential small-degree 4th wave in DAX and potential small-degree triangle in ES.