MTU Weekend Ed. - Wave E-down (12/11/15)

Most stocks are once again rejected by their 2015 topping zone (Chart 1). Despite the strength of Friday's selloff, price structures across benchmark indexes appear corrective at the moment. It has interesting implications on the top three longer term tracking scenarios (Chart 2).

The blue wave [4]-down has been tracking the best and is moderately more likely than the second-best-tracking green wave [5]-up. The red wave [4]-down is on the table but need further confirmation.

If so, the current selloff ahead of next week's rate decision is either wave (E)-down or wave (2)-down. Note that a Fed-driven wave (E)-down is quite befitting the personality of the terminal wave of a triangle. Furthermore, since we already have a complex wave (B)-up, wave (E)-down is likely to be a simple (double) zig-zag-like structure.

Market Timing Update (12/11/15)

[1225pm] SPX update -

[810am] ES update -

[EOD] Stocks-

Market Timing Update (12/9/15)

[EOD] Stocks-

Market Timing Update (12/8/15)

[EOD] Stocks-

[9am] ES update-
A potential triangle or flat in ES continues to track, but monitor possibilities of failure. See chart.

Market Timing Update (12/7/15)

[EOD] Stocks-
SP500 was supported by its MA200 today. A potential small triangle and a larger flat are still tracking. See charts.

MTU Weekend. Ed. - Short Term Update (12/4/15 close)

SP500 reacted strongly at the lower end of the previous topping range (which now coincides with its MA50) over the past week (Chart 1). However, mid-to-small-caps once again are lagging the very large-caps (Chart 2), which may limit the momentum of the upswing. Perhaps the gray wave 4 or the blue wave B in Chart 1 are developing, even a failed wave 5 (green).