Monday, July 23, 2012

Market Timing Update (7/23/12)

[EOD] Stocks -
The two top tracking counts since the June low highlighted in Short Term Update (7/20/12) anticipated today's drop (Chart 1, red and blue).

Given the current decline has not made a lower low (yet), we should add a 3rd count (Chart 1, green), whose EDT would likely frustrate both bulls and bears.

[715am] ES update -
See the latest weekly commentary for more details.


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