Tuesday, July 30, 2013

Market Timing Update (7/30/13)

[EOD] Stocks -
Chart 1 presents top tracking squiggles. The red count tracks the potential for a retest of the red neckline in Chart 2 as well as more bearish development. The blue count tracks the bullish potential of a w-x-triangle y pullback.  See charts.

[1130am] SPX update -

[820am] ES update -
ES is above overhead resistance on the daily chart. Near term counts track a bullish terminal triangle or a bearish flat. See charts.