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, December 10, 2009


When you have a big mess, reach for Bounty of course!

Read my last post to understand where I came from in this post Messy (Updated: 11:10)

Here is the same count on SPX, RUT, NDX, COMPQ, and INDU. It is not pretty on all, but it works on all. And hey, it is a messy volatile B Wave! What do you expect!

The thing to be very aware of is how unperfectly correlated they are before yesterday afternoon, and how well they are correlated since.

Seems like a Minor B to Minor C transition to me.

Updated 12:10 - Added TRAN to the INDU chart

Added a zoomed out chart so that the past Minor B can be seen relative to the other Minor waves. It is currently a little bit longer in duration, but provided less net retracement. It looks and feels like a flat and is providing a platform for one more push up

Update - 6:00. Adding RUT Count for Gumbo

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