Friday, November 23, 2012

Market Timing Update (11/23/12)

[940am] SPX update -
Squiggle level tracking counts from the perspective of the SPX cash index. See chart.
[745am] ES update -
ES approaching the prior neckline resistance (Chart 1). Moreover, a five up from its nominal low is likely complete with a potential tiny truncation (Chart 2 blue). The negative divergence with MACD is quite pronounced. See yesterday's EOD update for corresponding counts on the SPX cash index - EDT overthrow

Competing counts are also interesting.
Red - wave C-up ended or a strong [iii] of C-up advance next.
Green - an interim correction is already in progress, either as a flat or complex three w-x-y / triangle.


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