Market Timing Update (11/20/12)

[350pm/EOD] Stocks -
Tracking counts (Chart 1) and the larger picture (Chart 2).


[11am] SPX update -

Tracking counts ahead of Ben S. Bernanke's speech.
blue [iv] - sideways triangle bidding time
gray [v] - subdivide higher to wrap up 1/A-up
red [v] - wedge up to wrap up 1/A-up, does not apply to INDU given its lower low.


[935am] SPX update -

A perspective from the SPX cash index. See 840am update on ES for details.
[840am] ES update -
As previously discussed, the primary count is that wave [iv]-down is in progress. See chart and see yesterday's EOD update for details and the larger count.