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, January 22, 2010

L(S)D Option

This market feels like it is a bad acid trip.

When I look at the 5-wave move down on the SPX, INDU, NDX, RUT, COMPQ and I see overlaps between 4 and 1 on the last 3, but the pattern is very wedge-shaped on all, I tend to think it is a leading diagonal.

10:45 - Adding longer term chart to see wave size in context

1:30 - NDX and COMPQ count for Kevin

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