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, April 27, 2010

Boring Title #5

Mid-Day idea. Ending diagonal option is out. I don't love this count, but it does work. I still adamantly do not buy that the move since Feb is an overall impulse. So this last Y (Minor/Blue) as an overlapping double three does have some promise. The move since the high yesterday does look nicely impulsive down, volume and breadth very bearish (largest down volume on the 60 minute ES chart in the last month). Also the 20 day MA has been broken for the first time in over 2 months.

Top or not, it looks like correction time is likely starting.

blog comments powered by Disqus