Wednesday, May 30, 2012

Market Timing Update (5/30/12)

[EOD] Stocks -
We now have a visual five-wave decline from the recent nominal high. As the squiggle counts in Chart 1 shows, there is not yet confirmation of a trend change in either direction. Chart 2 updates the larger tracking counts.

[1030 am] SPX update -
Tracking counts (color coded) update and squiggle counts. See charts.

[730 am] ES update -
Kissing (chart 1) and potentially wedging if near term high is not in  (chart 2). See charts.