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

Friday, September 17, 2010

Time to Bust a Rhyme?, Time to Suck a Lime?

It's binv's Crazy Idea Time!

I will add to this as the day goes on:


This wave is done. And here is my crazy count. A triangle and a pop like I was saying yesterday: Limb. Also if you consider the crazy spike up and then back down in the futures, it looked like we had an overnight sentiment reversal and then the day crowd confirmed it.


Here are my supporting Nasdaq and S&P counts. I don't think these are 5 wave moves per: Limb. But that's just me (and I am perennially wrong)


Let's check in on sentiment. (see: Sentiment)

-- Bullish at the peak? CHECK!
-- Pattern supportive of a top? CHECK!
-- And speaking of sentiment: http://pragcap.com/small-investor-bullish-sentiment-soars-to-3-year-high


Well this is *very* interesting. I almost deleted this chart yesterday (the one from Break Watch) due to the triangle. But today *did* actually retest the broken trendline.

Nice :)

blog comments powered by Disqus