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

Thursday, October 1, 2009

Mid-Day Count Oct 1 (Update 2)

I was thinking more about the action today, and have a different interpretation. The diagonal from my last post seems very contrived and does not really fit the overall wave character. This is because an ending diagonal is a corrective structure that has an overall impulsive move. ... There is nothing at all corrective about today's action. It is very decidedly down.

I have a new count that counts much more nicely. It still accounts for the fight at 09:50. But it has a much more bearish interpretation.

blog comments powered by Disqus