Wednesday, August 15, 2012

Market Timing Update (8/15/12)

[EOD] Stocks -
The top near term options are updated in Chart 1 and discussed/explained in yesterday's EOD update.
I mentioned yesterday that subjectively speaking, the gray and green counts are appealing. Today's price action increased the odds of the blue expanding EDT-up and decreased the gray expanded flat-down, while prospects of the green count continue to be favorable. Under these interpretation, the associate invalidating pivots are well defined. In addition, the 1391/1392 area ideally should remain intact for the bulls.

[830 am] ES update -
ES at near term trend line support. Near term options vary (see yesterday's EOD update). It's probable that the proposed wave (4) is still finishing.


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