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

Thursday, February 18, 2010

And The ES So Far ...

.... is certainly acting like this is a real breakdown. The rally channel in the last C of Y leg is broken. However it is still sitting above some longer term trend lines that should be support. Tomorrow will tell if the reaction to the Fed announcement is simply part of a Wave 4 or if this is the beginning of a breakdown that should have some *very* strong legs.

blog comments powered by Disqus