Monday, January 28, 2013

Market Timing Update (1/28/13)

[EOD] Stocks -
SPX squiggles count like a small degree bullish triangle at the moment (Chart 1 and Chart 2). At the same time, beware of the bearish potential of a seemingly failed-triangle topping structure.
See Triple Top (1/25/13) for discussions of near term and longer term assessment.

[850am] ES update -
ES is approaching the small IHS measured target (red). Also note the large IHS target.