Tuesday, August 20, 2013

Market Timing Update (8/20/13)

[EOD] Stocks -
SPX likely has a five-wave advance from its low and a corrective retrace into the close (Chart 1). We shall see if the next upswing can fill the gap (Chart 2, red gap). As mentioned in Yesterday's EOD update, the decline from the high can be counted as a better-formed three or a plausible five.

[1115am] SPX update -

[840am] ES update -
A nice looking wedge to the overnight low in ES. See charts.