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, February 16, 2010

Fibby Dibby

Like I was saying Friday (And the Hits Just Keep on Coming), alphahorn, Blankfiend, joske and Croozer all called this one correctly. That is that we have been in Minor 2 last week.

There are some nice Fib proportions that point to one more small move up to finish Minor 2. Also the end of today makes Minor 2 about 50% the duration of Minor 1.

Assuming we get an EOD rally, I will probably short the close. NOT ADVICE, just sharing my thoughts.

Update 3:42

Very low volume rally (check SPY) - adding short scales. NOT ADVICE!!
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