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, November 13, 2009

El Counto

Current Count. This is the same one that I laid out on Wednesday (SPX Count). The channel back test held and did not break back up through the trendline (see my last 2 posts).

Did you get in your shorts? I did on Wednesday. TZA and FAZ are being very friendly to me right now (the Russell and Financials are leading this pig down).

So by my larger count this is still a Minor B Wave (Revisiting the Count). But as Columbia points out, this could be the top of P2 (Friday Updates)

Either way, the risk/reward says being short for the next week is a good bet (IMO).

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