Wednesday, August 29, 2012

Market Timing Update (8/29/12)

[EOD] Stocks -
From a near term bullish perspective, the decline into the close is testing recent trend line support (Chart 1). From a bearish perspective, a potential bearish triangle is completing (Chart 2, purple).

[250pm] SPX update -
Keep on wondering if we are looking at a bearish triangle (purple).

[910am] ES update -
Potential triangles at several degrees.