Wednesday, September 25, 2013

Market Timing Update (9/25/13)

[EOD] Stocks -
SPX continue to hover around prior neckline with positive divergence with technicals (Chart 1), which is somewhat bullish near term. Squiggles counts point to a near term low, barring a nested 1s2s structure (Chart 2).

Another new high in RUT today satisfies the minimum requirement of a five-wave advance (Chart 3).

[810am] ES update -
ES retesting prior neckline as well (Chart 1). Squiggles in Chart 2.