Wednesday, March 19, 2014

Market Timing Update (3/19/14)

[EOD] Stocks
SP500 is retesting several key trend lines (Chart 1). We are looking at
-> a potential bearish Head-and-Shoulders pattern which points to the 1790 area, and counts as the red [iii]-down or blue (c)-down.
-> a potential bullish inverse HS pattern (Chart 1 and Chart 2) which points to the 1910 area, and counts as the green [iii]/[c] - up.

[725am] ES update-
While ES continues to trade up in the range (Chart 1), it's probable to see a retest of the breakout line in Chart 2.