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, June 15, 2010

Mostly Dead

What am I talking about? The Leading Diagonal. I wrote here last Thursday that the Leading Diagonal was dead: A Third Look at "Always Another Option". And that count is definitely dead. I do not buy a truncated Leading Diagonal for the SPX as well as severely shortened 5th waves for the COMPQ and INDU.

But Col has a very nice theory that we could still be in a leading diagonal, see this post here: http://ewtrendsandcharts.blogspot.com/2010/06/monday-updates_14.html

Here is my count for this option. It is something that is definitely worth keeping on your radar screen

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