Friday, August 31, 2012

Market Timing Update (8/31/12)

[1110am]SPX update -
primary bullish (green) and bearish (red) near term count. See chart. The rise off the low is yet to appear impulsive. Odds favor the bearish count at the moment.

[8am] ES update -
Month end. Full moon. Blue moon. Watch the bearish purple descending triangle (Chart 1) should sentiment turns down. Chart 2 shows how it can fit the larger count.