Monday, June 17, 2013

Market Timing Update (6/17/13)

[EOD] Stocks-

[1140am] SPX update -
Once again, corrective and impulse wave tracking from the May high in SPX. See Charts. Note the potential red triangle (bullish) and the black triangle (bearish) in Chart 2.

[815am] ES update -
The ending triangle discussed in Friday's and weekend updates is mapped into ES. See Chart (green labels, red triangle) Wave E-down, unless already completed, is still on the table. Other tracking counts are also present, suggesting a small-degree wave C-up (bearish) or wave 3-up to new highs (bullish).