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, June 17, 2010


Out with the barf bags!!

Here are the things that make me want to puke currently:

1) This wave could be done as of the high this morning
2) This wave could have more corrective extensions (I can think of about half a dozen ways to count this correctively and they would all be legal counts)
3) The impulsive count for this wave since June 8 *really* makes me want to puke
4) At the same time, my preferred count since April 25 makes we want to puke almost as hard
5) This wave could be the end of 2 in my preferred count
6) This wave could be the end of A of 2 in the truncated LD count (the truncated LD makes me want to puke, gag myself, and puke some more)
7) This wave could be the end of 4 of a LD that is still going on

Have I missed anything?

Oh yeah, Gummi Bears really make me want to puke.... I guess that will do for now.

Here is my microcount. What do I think of it? You guessed it, it makes me want to puke. Until we break the channel completely we are in a guessing game: It might be over, it might not.

So besides having a barf bucket handy, I am sitting tight in my shorts and dry powder to wait for this gastric-acid-covered-wave to give us some fu**ing clarity.

Happy OPEX week!!

Update 4:05, adding EOD chart

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