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, September 21, 2010


From my post Friday, here was my chart:

There was the possibility that the count could be done (my crazy idea from Friday morning: Time to Bust a Rhyme?, Time to Suck a Lime?). But since we had no follow through down, something did not feel right about it being a top.

So in typical Monday fashion, we got another pop. The divergence is now very pronounced:

Are we done? Could be. The are a dozen ways to count this wave.

I think we are near the top now, so I am just waiting on these divergences to manifest into weakness.
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