Thursday, May 1, 2014

Market Timing Update (5/1/14)

[EOD]Stocks -
SP500 shows a decent five-wave decline from its high (Chart 1). Initial decline? (Chart 2) or terminal wave c of a flat? See charts.

[750am] ES update -
ES at resistance area shown by the red line. It needs to break above resistance with conviction or risk a retest of MA50 and trend line per symmetry. See chart.