Market Timing Update (10/18/16)

[EOD] Stocks -
Overall, it looks like a weak upward gap in SPX today - no higher highs and reaction at the green line resistance (Chart 1). As long as the green line holds, a probe of the green line in Chart 2 looks probable.  SPX closing above the green line makes it possible to fill the gap above. Chart 3 updates the tracking counts.

Market Timing Update (10/17/16)

[EOD] Stocks-
SPX is retesting the blue line (Chart 1) and a reaction/rebound here looks probable. Chart 2 presents the squiggles as a potential setup for a rebound. Chart 3 shows where the market is in terms of tracking scenarios.

MTU Weekend Ed. - a Pencil and a Ruler

This week's price action in SPX placed the green line at risk. A decisive push below the 5-week range will bring SPX to retest the red neck-line. A real breach of that red neck-line will make the post-Brexit breakout a false breakout at a larger degree. In that case, a meaningful low could take place in Q1 of 2017.  See Chart 1.

Chart 2 presents potential paths in SP500 Emini futures from the August high.

Market Timing Update (10/14/16)

[735am] ES update -
Key tracking counts from the August high. See chart.

Market Timing Update (10/13/16)

[1220m] SPX update-
SPX rebounds after hitting the Fib382 retrace and is at the lower end of its prior range (Chart 1), with a 3-wave (blue) or 5 wave (red) pattern (Chart 2). See charts.

[9am] ES update-
ES tracking. Blue-rhyming with the Sep crash; Green- upward flat or A and B of EDT or large sideways triangle. See chart.

Market Timing Update (10/12/16)

[EOD] Stocks-
SPX rebounded to the green line and stalled (Chart 1). Very little to add on short term scenarios (Chart 2).

Market Timing Update (10/11/16)

[EOD] Stocks -
Today's low in SPX is likely the blue & pink B, black [b] or gray C (Chart 1, or perhaps one more retest Chart 4), barring extension selloff. The red (C) and the green C(C) will track a continued selloff, which is likely to fill the gap at 2099.  For now, an upswing is in progress.

Price action at a larger degree is revealing (Chart 2). SPX retested the lower blue line support today. The current rebound is likely to challenge the overhead resistance at the green line, and potentially more (gap, red line and the upper blue line). Furthermore, the decline from the 2179.99 counts well as a zigzag so far (Chart 3).

[12pm] SPX update -
You are here. SPX breaking below recent series of lows this morning removes a number of near term scenarios and clears up the picture somewhat. See chart for scenarios that are currently tracking. See chart.

[10am] SPX update -
You are here. Scenario tracking. SPX filled yesterday's up-gap but opens a down-gap.The red (C)-down and blue [b]-up tracking the current move. See chart and weekend commentary.