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

Monday, March 8, 2010


The Nasdaq composite made a new 52 week high today (Yet the Nasdaq 100 did not, interesting). Much like the Russell did last week.

Like I laid out my case for Friday (What If?) and Saturday (Examination of the Large Technical Landscape / Possible Paths), I think P2 is ending now and not January for all the US broad market indices (assuming that is the correct Primary Degree count). P2 does not have to end at the extreme price. The inter-market divergences would come from the fact that some make new highs while others don't, not that the overall wave timing is necessarily different.

We are looking for the next move down to be clearly and unambiguously impulsive. If it is not, that will be very telling.

blog comments powered by Disqus