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, December 29, 2009

Two Great Tastes That Taste Great Together

Actually, these counts do not taste great. In fact, if I had to identify these two tastes, I would call them "rotten eggs" and "vomit" ... I don't know, "puke" has a certain guttural allure about it. Okay "rotten eggs" and "puke" it is! Nothing about the counts during silly season make much sense. Here are the two main options again (from my point of view at least).

Based on how the price has been meandering up, with no bearish resistance, on little breadth and volume, makes me think we will have no real pullback at all until Minor C is done.
If this observation is valid, then I tend to favor the triangle option at the moment.

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