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, October 7, 2011

Oct 7

All told, it was a pretty bullish week. The close today seems to be suggesting weakness on Monday (a pullback to burn off some of the short term overbought conditions). But my 60-min Trend System does not seem to be indicating that this wave up is over.

SPX has already broken above its downtrend line and has retested it. The NASDAQ is currently testing its downtrend line.

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