Tuesday, June 12, 2012

Market Timing Update (6/12/12)

[EOD] Stocks -
The follow-through buying this afternoon does not look particularly impressive, until proven otherwise (Chart 1). Note that the market closed around the 0.618 fib retrace of the prior decline. It's possible the afternoon advance completes a small degree B wave (Chart 2 green B, or Chart 1 blue-alt-B, Chart 3 to the right pink).


[122pm] SPX/ES update -
ES and SPX are making an attempting to breakout from their overnight consolidation area following the current retest.


[1045am] SPX update -
Wrapping up a potential wave C-down with a wedge. See charts.


[830am] ES update -


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