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

Tuesday, November 24, 2009

If I Had to Guess

And of course, I am. I still think we are in Minor B (see last post Now That's What I Call VOLATILE! :)). Gumbo and Kevin and I were discussing whether this was a 4 of 5 of A or b of B. I maintain and still think this is a b of B.

Even though breadth was 10:1 yesterday, it did not have the commensurate volume. I remarked that the volume yesterday was unimpressive. That doesn't mean that it was necessarily low, it meant that I would have thought very differently about that wave if it was 10:1 breath on exceptionally high volume. But it wasn't, so I still maintain that is was just a volatile Wave B spectacle. Just like the last Wave B we had (see the link above for more on those observations).

Current count. Still building off of the same preferred count that I have been showing consistently for the last few weeks.

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