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

Wednesday, May 11, 2011

May 11 (Just Enough)

:) I was saying yesterday that the main indicator on my 60 minute chart started turning up. Well, this market pushed faking out to the limit. There was just enough of a reversal to issue a bottom signal. However today's action moved the indicator back down.

Like I was saying yesterday, there was nothing about the move for the last 2 weeks (1 week of a down move with a strong reversal) that made any sense to me in the context of a continued uptrend. But I was listening to my indicator and it was telling me that the downtrend was likely over.

Now things seem to be back in line, and my world is starting to make sense again :)

Current thoughts:

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