We're moving into the main daily timing low zone as seen on the cash index charts as discussed last week. The next few days should tell us whether we have a swing low established or just a temporary pause before a breakthrough to more downside. The first clear sign of a low being in place would be breaks of resistance on the 45 minute index futures charts. If we start to see some lift on ES, there's a Gartley resistance pattern on the 45 minute chart from 888.00 – 894.00. This would be a key area to test whether or not we're just seeing a corrective bounce if this rallies from current lows. 1432 – 1441 similar resistance on NQ. Again that's if we hold current daily swing lows and see those areas tested.

S&P cash daily:

S&P

S&P cash daily

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Dow cash daily:

Dow

Dow cash daily

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Nasdaq cash daily:

Nasdaq

Nasdaq cash daily

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ES 45 minute:

ES

ES 45 minute

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YM 45 minute:

YM

YM 45 minute

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NQ 45 minute:

NQ

NQ 45 minute

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Last week we did a short introductory class on Fibonacci Timing in my chat room. The recording is just over 30 minutes, and you can view it for free here:

http://www.mjbraun.net/TimingClass/TimingIntro07-09-09.html

Mark Braun – Market Geometry

www.mjbraun.net