Wednesday, August 22, 2012

Market Timing Update (8/22/12)

[EOD] Stocks -
Chart 1 updates the larger tracking counts. Subjectively speaking, I find the purple wedge (wave B?) and the blue sideways consolidation (wave 4/2?, triangle?) appealing. Chart 2 updates the squiggle count highlighted in the 210pm entry

[210pm] SPX update -

[740am] ES update -
Overnight low around ES trend-line support as well. Potential expanded EDT in ES to wrap up this leg or a larger sideways consolidation on the bullish side. The bearish count is straightforward at the moment.