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

Monday, September 21, 2009

Mid-Day Count Sept 21 (Update 2)

I believe we are still in a correction, and while it is not a triangle, I believe it is still gaining in complexity and trying to extend sideways. So far I am counting it as a double-three (just starting on the second three). There are a lot of ways to count this one. So while this is my preferred, it is not a "high-confidence" preferred count.

Well, triangle count is out, flat option is in. See my last update post: EOD Count Sept 18. Next we need to watch the C wave of this flat to see if it goes below 1039 (and into the territory of wave 1). We will deal with that count if we come to it (but Minor C would start looking *very* diagonal-ish if that were to happen)

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