Tuesday, March 12, 2013

Market Timing Update (3/12/13)

[EOD] Stocks -
Today's decline is likely wave (a) of wave [iv] (1140am chart, blue) while more bearish potential exists (red count).  The tendency of alternation suggests the proposed wave [iv] is likely to be sideways.  ES squiggles shows another near term bearish possibility ( see 2nd chart below.) in addition to the SPX squiggle (325pm update).

[325pm] SPX squiggles -

[1140am] SPX/ES update -
SPX breached the near term support line while ES is flirting with its corresponding line. See charts.

[810am] ES update -