Monday, May 22, 2017

Market Timing Update (5/22/17)

[EOD] Stocks-
Bull (green) / bear (red) squiggles of the rebound in SPX(Chart 1) and the preferred larger structure (Chart 2). See charts.

Saturday, May 20, 2017

MTU Weekend Ed. - The Bigger Picture (5/19/17 close)

The preferred count, one of several credible tracking counts, places SPX in a fourth wave pullback with respect to the key Feb 2016 low. See chart.

There are two key potential structures of the current fourth wave pullback. [1] While an expanded flat to MA200 (green 4) makes more sense in terms of the local structure, it fails to alternate with wave 2. That leaves us with two key possibilities within this scenario - (a) [iii] but not 3 topped in early March (b) wave 4 is a complex combo (expanded flat-x-something).

[2] A shallow triangle (blue S4). Since this past week's one-day sell-off is most likely an impulse wave, we likely saw wave (a)-down and (b)-up of wave [c]-down on Thursday and Friday.

Wednesday, May 17, 2017

Market Timing Update (5/17/17)

[EOD] Stocks-
SPX filled its Mar-Apr gaps and closed below its 50-day moving average (Chart 1). The speed of the sell-off is consistent with the prior wave being an expanding diagonal triangle highlighted in recent updates (Chart 2). There is more to go if we had an ending DT (Chart 2-blue), less to go if we had an leading DT (Chart 3).

Monday, May 8, 2017