I analyze macroeconomic issues from a fundamental perspective, and I analyze market behavior from a technical perspective. Original macroeconomic analysis can be found here and both macro analysis and commentary can be found on my Caps blog. If you like or appreciate my analysis, please add yourself to my Following List

Wednesday, October 21, 2009

I Like Mine Extra Crispy

Out of all you bears, how many got scared out of their shorts today? Not me.

In my last count, I showed one more potential wave up this afternoon, for the completion of the run. Instead we got our huge selloff a bit early.

.... Darn, I hate being wrong :)

Lets see how this holds up tomorrow.

Update 5:05 pm

60 minute pattern chart. Hitting trendline support, won't be surprised by a bounce off of it and for it to act as support during the day tomorrow.

.... Of course, we could always gap down through it .... :)

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