Monday, July 16, 2012

Market Timing Update (7/16/12)

[EOD] Stocks -
SPX is fighting resistance at several degrees - at small-degree fib retracement (Chart 1) and at a larger degree prior breakdown level (Chart 2). Overnight actions could be interesting.

[1240pm] SPX update -
Potential small-degree triangle or flat.

[625am] ES update -
Deciding moment for a small-degree 3-up or 5-up.