We're entering the index timing high window today with the focus visible on SPX and INDU daily charts from tomorrow until Thursday August 6 th . The strongest timing is visible with the manual work done on the SPX chart, with an emphasis on tomorrow. On the shorter term, we held 45 minute price and time lows on the ES on Friday morning – now we're facing timing highs at the open on ES and YM. We'll have to pay particular attention to any intraday timing highs if price is nearing additional target extensions, as the 45 minute timing may work together with the stronger daily timing to signify at least a stronger corrective decline in store.

SPX (S&P) cash daily:

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INDU (Dow) cash daily:

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ES (eMini S&P futures) 45 minute chart:

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This will have to be updated after the open with new support if it opens above 994.00. We'll want to see if 45 minute price support holds during pullbacks, as it has throughout the rally since the early July lows.

YM (eMini Dow futures) 45 minute chart:

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This one has already been updated with new support which is valid until we see a further swing high.