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, September 30, 2010

No Longer a Wedge!

The Nasdaq broke the lower trendline. This means that the current wave is not part of the wedge (unless it is an expanding diagonal .... yeah. As both Kevin and I would tell you, expanding patterns as actual wave counts are 99.9% of the time fictitious).

I want to see where this current wave lands and then I will watch the retrace. But I am leaning toward this Minuette, Minute and Minor wave being done this morning.
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