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

Friday, April 29, 2011

April 28

Current count. This wave is looking a lot like the end of the February wave. I don't know if this is the end of it, but it looks like we are very near. Also no pullbacks at all, just sideways consolidation and stair-stepping into highly overbought territory.

This last wave for the past week and a half is not an impulse. If you want to be ridiculous and call it an impulse, that is your prerogative.


And speaking of ridiculous impulsive counts, I still see a lot a counts trying to call the move since last July as an impulse. And I disagree with that pretty vehemently.


This final move is looking like it will get toward my target area of 1370 (give or take a few points) with virtually no pullback. That doesn't seem particularly healthy to me.

blog comments powered by Disqus