Thursday, October 9, 2014

Market Timing Update (10/9/14)

[335pm] Stocks-
While the volatile price action opens up several near term bearish scenarios, it's prudent to be aware of the potential EDT-like structure across several indexes as well as positive indicator divergence. See Chart 1. Chart 2 offers a broader picture on near term tracking counts on SP500. Let's see what the market delivers next.

[1235pm] SPX update-
Tracking counts.

[750am] ES update-
ES dropping below resistance. See chart.