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, December 11, 2009

Options and Contradictions

I just went through another study of the last 2 months. I wiped the slate clean and brought in a new chart to do side by side index comparisons.

And I think the evidence is pointing to the conclusion reached in this post I wrote today: Boba Fett, that Gumbo's call that we are still in Minor B, in a very complicated Y of B wave that needs to do some more retracement.

There is so much non-confirmation, which is what we would expect near the top. But I think this market has one last Christmas "trick" up its sleeve to catch the bears off guard with a Christmas rally, but not before it kicks the bulls in the crotch with a breakdown next week.

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