Wednesday, November 14, 2012

Market Timing Update (11/14/12)

[EOD] Stocks -
SPX is approach the Fib-618 retrace (Chart 1 blue) and the end of a potential flat structure (Chart 1 blue and Chart 2). A fresh upswing or 4th wave rebound/consolidation(Chart 1 red) is likely next.Note the persistent positive divergences of late.

Chart 3 shows the structure of the Hope Rally and Chart 4 updates the potential fractal discussed in the recent weekend commentary.

[1145am] SPX squiggles -
correction tracking counts. see chart.

[1035am] SPX update -
A follow up to yesterday's EOD update on SPX. This morning's decline eliminates the small triangle squiggle count, leaves counts with an ETD (green) or asmall-degree 5th wave down (blue,red). See chart.
[810am] ES update - see charts