Market Timing Update (7/14/15)

[EOD] Stocks -
SP500 closed above the overhead trend line resistance (Chart 1, red dotted line). A retest appears likely. Chart 2 tracks squiggle counts.

Market Timing Update (7/13/15)

[EOD] Stocks -
SP500 closed at its MA50, likely to complete a potential E wave (Chart 1). Chart 2 tracks near term bullish and bearish counts.

[835am] ES Update -
ES broke above (potential bearish triangle) resistance on a Greek deal (Chart 1) and is approaching overhead trendline resistance (Chart 2). See Charts and Potential Upswing (7/10/15) for more.

MTU Weekend Ed. - Potential Upswing (7/10/15 close)

... draft in progress, subject to change ...

The pullback in SP500 from its Mid-May record high has been a three-wave structure so far (Chart 1). A break above its July 7th high (2083.74) which invalidates a potential bearish triangle would confirm the end of the three-wave decline. Since the Dow (Chart 2) and NDX (Chart 3) have already exceeded their respective July 7th highs, odds appear to favor similar actions in SP500.

Price actions in SP500, Dow and NDX suggest the possibility that the three-wave ABC decline ended with a triangle and Friday's advance was the initial wave of a new upswing (Chart 1 green, and Chart 2 and Chart 3)

Whether the proposed three-wave ABC decline is part of a larger bearish structure remains to be seen. If the pullback is complete, SP500 is likely to wrap up wave E highlighted in Chart 4. Otherwise, in addition to the small-degree gray wave [v] in Chart 1, a larger EDT from the high is another possibility. See Chart 5.

Market Timing Update (7/1015)

[730am] ES update -
ES is making attempts to break out upwards. Above 2078 (which invalidates a potential bearish triangle) confirms the upswing. See charts.

Market Timing Update (7/9/15)

[1010am] SPX update -
SP500 is now back inside prior range. If SPX can invalid the gray potential bearish triangle, the decline (or the first leg of decline) from its mid-June high is likely over. See chart.

Market Timing Update (7/8/15)

[8am] China SSEC /ES update-
China SSEC (down -33.92% H to L) likely completing the initial impulse decline (Chart 1 blue) or in 3 of 3 of the proposed impulse (Chart 2 red). Chart 2 tracks ES in early stages of an advance or still in a triangle-type small-degree wave 4. SPX cash looks relatively more bullish.

Market Timing Update (7/7/15)

[1125am] SPX update -
See chart tracking counts. Also note the positive divergence.

[905am] ES update -
ES is retesting its breakout line. See chart.