Wednesday, October 17, 2012

Market Timing Update (10/17/12)

[EOD] Stocks -
Wave 5 off the recent low is in progress (green) or wave 4 consolidation is still in progress (blue). See chart 1.

[150pm] SPX update -
The writings are on the chart.
[850am] ES update -
7 waves up from its nominal low in ES. Some near term negative divergence is showing up. Candidates for the pending high is 3-blue or (X)-red. See chart.