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, June 24, 2011


Like I showed in today's post June 24, we have a possible triangle setup / very sideways correction.

The last 2 weekly candles show absolutely no net progress. I am struck by the feeling of the price action now to that of Silly Season 2009. That also made no net progress for several weeks with lots of gaps up and gaps down with tons of reversals and no follow through. It was also a prolonged sideways triangle.

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