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).