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, August 26, 2011

August 26

Another volatile day that gave us no clue. No higher high or lower low. Could this be base building for a strong move up? Could this be consolidation into a triangle to continue the move down? The answer to both questions is 'yes'. Patterns are giving no edge here. My trend system still is saying the the uptrend is intact (although not as strong as Wednesday, obviously). So I stay long until my chart gives me a reason to think otherwise.
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