Thursday, March 20, 2014

Market Timing Update (3/20/14)

[EOD] Stock -
Today's rebound in stocks stalled at the IHS neckline (Chart 1 and 2), ahead of quadruple witching tomorrow. We are adding a potential bullish triangle to the tracking counts (Chart 1, purple). If this larger triangle plays out, its wave E may or may not be complete - one should allow room for a final (emotional) down swing. A higher high would suggest wave E ended at today's low, under this count. See charts.

[740am] ES update -
ES retesting the prior small wedge line (Chart 1). Chart 2 offers tracking counts and shows the one bullish HS pattern and one bearish IHS pattern discussed in yesterday's EOD update (on SPX cash). See charts.