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

Monday, April 23, 2012

Apr 23

Current micro-count, which I seldom show or count anymore. But many are counting this as part of a larger impulse down (and thus setting up a series of 1-2, 1-2's). I don't think that is a correct call, even though I do agree that we have another low coming.

My 60-min Trend System is also expecting a lower low (see: Apr 7 - Daily and 60-min Cycles, Looking for an Edge). But the bear flag has already set the stage for a very large divergence with the next low. So I am expecting a pullback to look something like this: Apr 19

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