Wednesday, August 19, 2015

Market Timing Update (8/19/15)

[330pm] SPX update - See chart.
Potential triangle mapped into SP500 (see 825am ES update for details).

[825am] ES update - See chart.
Near term: The red 2015-overhead resistance line has capped the advance in ES once more and ES is probing potential breakout support.
At larger degrees: potential blue triangle since the May peak?
FOMC minutes at 2pm EDT.