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

Sunday, January 17, 2010

The "Two" Line

ayalp on my post O Mandelbrot, O Mandelbrot made some fantastic observations regarding the trendline connection of the Wave 2 retracements peaks on the Dow Industrials. (http://marketthoughtsandanalysis.blogspot.com/2010/01/o-mandelbrot-o-mandelbrot.html#comment-29885004).

I, and many others, have drawn this trendline from the Oct 2007 peak. But this line gives a slightly different perspective on those peaks and the potential long term channel.

It also forms a very nice line on the SPX. Very interesting stuff!

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