Wednesday, November 28, 2012

Market Timing Update (11/28/12)

[EOD] Stocks -

SPX closed at the neckline which could present near term resistance (Chart 1 to the right).

Chart 2 updates the tracking counts which make the rebound from today's low as

[green] a 5th wave
[blue [x] or red B] an corrective connecting wave
[blue [i], post red X] start of another upswing.

Chart 3 squiggles today's rebound. It shows that a five up is nearly or already up, or a double-three is missing the final [b] down and [c]-up. The squiggles pair up with options in Chart 2 fairly well.

[140pm] SPX update -
Please see the 2nd chart below.
[950am] SPX update -
Tracking counts from the perspective of SP500 cash index. Note that MA200 roughly coincides with a fib-382 retrace.

[7am] ES update -
A potential 4th wave or retrace/reversal of an ABC rise.