Thursday, August 28, 2014

Market Timing Update (8/28/14)

[EOD] Stocks-
Be aware of a potential LTD from a bearish perspective. See charts for squiggles and tracking counts.

[950am] SPX update-
Tracking squiggles from the high and tracking counts from the low. See charts.

[725am] ES/DAX update-
Yesterday's observation on ES - "Counting the red bars on the daily chart, one counts 7 waves for the current upswing." The overnight drop is w8-down for an impulse (and expect w9-up) or the drop marks a reversal from 2002.75 for an expanded triangle/flat. (Chart 1).

Chart 2 tracks the August upswing in ES.  

Chart 3 shows DAX pulled back from a fib-618 rebound and is now retesting the prior w2/w4 resistance.