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 6, 2009

Retraces

Here are the Wave 2 retraces. Wave 2 could be done (I think it is) or it could be extending into next week. There is a lot of evidence to support both cases.

But I think all the indices have retraced the requisite amount. Next week will be interesting.

Retracements:
- INDU: 78%
- SPX: >50%
- NDX: 62%
- COMPQ: >50%
- RUT: >38% (and by far the most sold off index)





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