Thursday, January 10, 2013

Market Timing Update (1/10/13)

[EOD] Stocks -
The advance following the recent pullback low on Jan 8th appears tiring and more corrective than impulsive. That leaves us with the following tracking counts off the Cliff Low. See chart.
(blue and gray) The pending high is wave (b)-up or (x)-up of an ABC or WXY pullback. Wave (c)-down or (y)-down is next.
(red) An expanding triangle wave B is in progress. Wave [e]-down is next. (green) Wave [iii]-up or C-up is already in progress.


[145pm] SPX update -
Tracking counts. SPX is wrapping up a small degree [b]/[x]-up based on the primary count.


[8am] ES update -
There appears to be a 3-down and a 3-up in ES from the recent high in ES. See chart.




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