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, January 13, 2011

"C" is for Citi that's good enough for me

We have been discussing C a lot in my blog comments. I completely agree with oneofdaworst that there is a large triangle / pennant formation on C. I also agree that it targets higher prices than where it is right now. The question is, do we get there in a rush (like in the next couple of weeks) or take a breather first before resuming the rally?

I think the latter. (And as usual, I fully reserve the right to be wrong). And I for one exercise that right frequently :)

Here is my "C"razy count for C. I think the move up from the bottom is a set of threes (and yes a triangle is a three). The move up from the triangle breakout has not had a B correction yet, which I think it needs before resuming it C leg up to the triangle target.

The timing for the long term crazy count comes from my thoughts here: The Large Count with Historical Perspective.

Disclosure: This post was brought to you by the letter "C"
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