Tuesday, May 22, 2012
Market Timing Update (5/22/12)
[EOD] Stocks -
On the squiggle level, the market is retracing a better-formed five-up in ES and a fuzzy five-up in cash SPX (Chart 1 and Chart 2).
Chart 3 and Chart 4 show the larger counts discussed in days.
[1145am] SPX squiggles -
[740am] ES update -
ES turned down overnight at down trendline resistance and found support at the potential base channel.