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, March 2, 2010

The Big BKX Count

I had been struggling with the BXK count for some time. And I have *never* found anybody's that I like. But the count was bearish and that was good enough for me. .... for awhile. But that is a very unsatisfying analysis.

However mk and I were discussing this last week (http://marketthoughtsandanalysis.blogspot.com/2010/02/still-looking-bearish.html#comment-36293615), and his theory I believe is right on!! At least it is the one that I like the best and makes the most sense.

Addition 3/3 - 10:30

Change Primary ABC to WXY to better convey the double zigzag (ABC would imply a flat), per the conversation with mk below: http://marketthoughtsandanalysis.blogspot.com/2010/03/big-bkx-count.html#comment-37789282

So I took his ideas and ran with them. I did some research based on the behavior of other financials and have arrived at an analytically satisfying count. Here it is:

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