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, July 20, 2010


Well, that was a crappy day, no doubt about it. But here is the deal. We still have the 50 day MA above us + resistance at 1100. We have been making lower highs and lower lows since April and today did not break that trend. If we break back above 1100 on the next wave, then my primary count is seriously threatened. Until then, this is just low volume volatility in a larger downtrend and I intend to keep trading with the larger trend.

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