Thursday, February 11, 2016

Market Timing Update (2/11/16)

[EOD] Stocks-
SPX and INDU held their January lows, but SPX futures breached the low overnight (see 805am update below). The line hugging continues (Chart 1). The sell-off from 1947 is best counted as a fifth wave (Chart 2). While a tiny-degree wave [5] retest/breach of today's low remains on the table (Chart 3), a low appears to be in sight.

[805am] ES update-
New low in ES.  See chart.