Thursday, September 6, 2012

Market Timing Update (9/6/12)

[EOD/330pm] Stocks -
The proposed wave 5 is likely in progress(Chart 1). On the bullish side, wave 3 could be extending making this breakout [iii] of 3. On the bearish side, wave 5 could be short or wave 4 could be an expanded flat or triangle which is not over yet.

[805am] ES update -
overnight breakout (Chart 1), bullish (blue) and bearish tracking counts (red) for the near term (Chart 2).