Tuesday, September 10, 2013

Market Timing Update (9/10/13)

[EOD] Stocks -
SP500 is filling the overhead gap and approaching potential resistance represented by prior neckline (Chart 1), while RUT is facing a moment of truth regarding August sell-off being an LD or a ABC correction (Chart 2). NDX and COMPQ are at new recovery highs. See charts.

[215pm] SPX update -
Near term tracking counts and squiggles. See charts.

[8am] ES update -
Gap fill day and relatively mature wave structure.  Pending high in SP500 cash index as end of WYZ or 1/A-up.  See charts.