Wednesday, March 18, 2015

Market Timing Update (3/18/15)

[EOD]Stocks- SP500 probed the green zone (prior support) in Chart 1 from below today but is not yet able to break above it. The iHS in Chart 2 points to a marginal record high (and a proper overthrow), while the bearish tracking counts (gray and red) suggest imminent pullback. Let's see which one tracks.
[1210pm]SPX/INDU update-
The suspected 2nd test of the red line came this morning ahead of the FOMC announcement. Let's see if the line holds. See charts.