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, March 10, 2011


Today was just crazy. Bulls and bears lining up at the line of scrimmage yesterday (tight range, volatile but directionless) and instead of a play getting developed and finding direction, we get a massive gap down. Probably flags being thrown on this play at the NYSE :)

Anyways, a common theme of my recent analysis is that the move down from the 18th is not an impulse (not even remotely) and that the ensuing corrective wave down is potentially 'a' top of some sort, not 'the' top.

This is what I see so far:

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