This past Wednesday's low could signal the end of the current pullback (or this first leg of the pullback) (Chart 3 green), but there exist numerous short term options (Chart 3 red, blue, Chart 2 red blue) and SPX is yet to deliver higher highs.
Friday, September 16, 2016
MTU Weekend Ed. - Sandwiched (9/16/16)
SPX is sandwiched between existing support and emerging resistance (Chart 1, red lines) with unfilled gaps above and below (Chart 2).
This past Wednesday's low could signal the end of the current pullback (or this first leg of the pullback) (Chart 3 green), but there exist numerous short term options (Chart 3 red, blue, Chart 2 red blue) and SPX is yet to deliver higher highs.
This past Wednesday's low could signal the end of the current pullback (or this first leg of the pullback) (Chart 3 green), but there exist numerous short term options (Chart 3 red, blue, Chart 2 red blue) and SPX is yet to deliver higher highs.
Thursday, September 15, 2016
Market Timing Update (9/15/16)
[EOD] Stocks -
Chart 1 updates yesterday's observation that a potential zigzag/flat pullback was ending. Today's rebound confirms. Whether it was an initial pullback or an completed pullback remains to be seen.
In fact, today's rebound is again on less-impressive volume and has failed to fill the gap in a single session. Furthermore, SPX is again reacting to potential resistance (Chart 2). Tomorrow is a quadruple/triple witching day. Let's see how market moves.
Chart 1 updates yesterday's observation that a potential zigzag/flat pullback was ending. Today's rebound confirms. Whether it was an initial pullback or an completed pullback remains to be seen.
In fact, today's rebound is again on less-impressive volume and has failed to fill the gap in a single session. Furthermore, SPX is again reacting to potential resistance (Chart 2). Tomorrow is a quadruple/triple witching day. Let's see how market moves.
Wednesday, September 14, 2016
Market Timing Update (9/14/16)
[EOD] Stocks-
The Dow/MID/RUT made a fresh Sept/downswing low late afternoon today (Chart 1), effectively eliminating a bullish terminal triangle scenario in SPX. There is a bullish scenario as a potential zigzag or flat is ending (Chart 2), save for a small-degree fifth wave decline (Chart 2 blue (v). There is no guarantee that this scenario will be realized, but it is worth tracking at the moment.
[3pm] SPX update-
The bigger picture. See chart.
[1035am] SPX update-
Squiggles and tracking counts. See charts.
The Dow/MID/RUT made a fresh Sept/downswing low late afternoon today (Chart 1), effectively eliminating a bullish terminal triangle scenario in SPX. There is a bullish scenario as a potential zigzag or flat is ending (Chart 2), save for a small-degree fifth wave decline (Chart 2 blue (v). There is no guarantee that this scenario will be realized, but it is worth tracking at the moment.
[3pm] SPX update-
The bigger picture. See chart.
[1035am] SPX update-
Squiggles and tracking counts. See charts.
Tuesday, September 13, 2016
Market Timing Update (9/13/16)
[EOD] SPX update -
Be aware of a potential triangle (bullish green, bearish red) if stocks continue to struggle with the blue and green lines (Chart 1). Also see squiggles in Chart 2 and Chart 3.
[120pm] SPX update -
Squiggles from yesterday's low. Currently breaking out of a small-degree expanding EDT. See charts.
[955am] SPX update -
Squiggles from yesterday's low. See charts.
[905am] ES update -
ES stalled and was rejected by the prior neckline. See chart.
Be aware of a potential triangle (bullish green, bearish red) if stocks continue to struggle with the blue and green lines (Chart 1). Also see squiggles in Chart 2 and Chart 3.
[120pm] SPX update -
Squiggles from yesterday's low. Currently breaking out of a small-degree expanding EDT. See charts.
[955am] SPX update -
Squiggles from yesterday's low. See charts.
[905am] ES update -
ES stalled and was rejected by the prior neckline. See chart.
Friday, September 9, 2016
Market Timing Update (9/12/16)
[EOD] Stocks-
SPX rebounded strongly on less-impressive volume, reacted at each of two blue resistance lines (Chart 1). See tracking counts and squiggles (Chart 2 and Chart 3).
[120pm] SPX update-
Potential reaction at potential resistance. See chart.
SPX rebounded strongly on less-impressive volume, reacted at each of two blue resistance lines (Chart 1). See tracking counts and squiggles (Chart 2 and Chart 3).
Potential reaction at potential resistance. See chart.
MTU Weekend Ed. - Retesting and 2016 Scenarios (9/9/16)
Friday's plunge allowed SP500 to close below its MA50 with ease. Near term, a H&S pattern is targeting the 2100 area which coincides with the Apr-June resistance (now potential support) as well as the Feb-Jun trend line. See Chart 1.
A retest of the prior breakout area of 2075 is probable on continued selloff. See Chart 2.
Current price actions continue to track the 2016 scenarios discussed earlier. See Chart 3.
Price swings over the past year are so far three-wave sequences. See Chart 4.
Price swings over the past year are so far three-wave sequences. See Chart 4.
Market Timing Update (9/9/16)
[125pm] SPX update-
SPX gaped down and dropped hard to below its MA50. Currently at potential support. Next support area is between the TL and 2110 breakout area, which is where a potential HS pattern is targeting. See chart.
[745am] ES update-
Potential for gap fill and testing of MA50 in the cash index. See charts.
SPX gaped down and dropped hard to below its MA50. Currently at potential support. Next support area is between the TL and 2110 breakout area, which is where a potential HS pattern is targeting. See chart.
[745am] ES update-
Potential for gap fill and testing of MA50 in the cash index. See charts.
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