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, December 23, 2009

Heartbreaker

Russell, Russell, Russell.

Russell broke this bears heart yesterday: Don't Pull Your Love Out on Me Russell, when it made a higher high invalidating the Russell P2 count. And with the move up today, the Triple Top Scenario is virtually gone.

So assuming my short term count is correct, I spot a few interesting Fib Relationships:

Minute C = 1.62 * Minute A => 648
Minor Y = 1.62 * Minor W => 650
P2 = 0.62 * P1 => 660
Upper trend line (bottom chart) at the end of the year = 660

So I think Russell will be making a run up to 650-660 for the end of the year.

.... Don't worry Russell, I will be waiting for you there :) (smooch)


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