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

Tuesday, February 2, 2010

Omelette au Fromage

Current count for the SPX on the 60 minute chart. Notice the positive divergence and bottoming on both the fast and slow MACD

Also here is my ES count. The price broke through the upper trendline from the underside, consolidated above, moved down to retest old resistance (which is now support) and moved strongly off to the upside.

I think we are in Minor 2 as of Friday afternoon. My $0.02.
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