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 28, 2009

So the Diagonal Walks Up to the Two and Says...

So I wish Primary 2 was done, I *want* Primary 2 to be done. I just don't think it is done.

Here is the ending diagonal count that Columbia and I have been working (discussed the possibility a week ago) and mentioned in these posts:

It looks like the bulls and bears want to fight it out just a bit more before heading down.

Here is the P2 ended count. The count option up to the end has been documented by Daneric here. Mine is basically the same. The part is the "after" which I don't like. It is not developing fully as an impulse. And quite honestly it counts better as a 3 than a series of 1-2s, so far. Just my take.

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