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

Still think we are in P3. That the expanded flat from yesterday is complete.

This morning's count is tricky. Because at 09:50 there was a huge bull/bear tug of war. On a 5 minute chart you will never see it, it will look like one candlestick. But on fast minute chart (such as the 2 minute below) you can see it.

This was a big move that showed up all across the indices and can't be ignored. Here is my count that attempts to join all this confusing behavior together

Also, here is my count that justifies the C leg of the expanded flat for yesterdays post.

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