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

Wednesday, November 11, 2009

SPX Count

Here is what I think. This goes along with my larger count from my last post (Revisiting the Count).

The leading diagonal down was a red herring. We are still in P2. Here is what I think about the count. I think the move up is done. I think it looks proportional (Y compared to W). And since the top we have had a 5 wave move done.

BTW, a huge Thank You to Alphahorn who not only called the top real-time on the CIL but put up a post within a few minutes of the top of this last run with a call to go short (Time to go short, tight stops). I couldn't agree more. Thanks man!!

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