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, November 18, 2011

Nov 18

My 60-min Trend System is still on a short signal. I think the move today is consolidation in preparation for another move down, and is not yet a tradeable bottom. That is what my system is telling me, and that is also what my gut is saying.

Here is my larger count in context. I am showing it because I am thinking about comparison below, a similar setup to the March wave down. If that were the case, then we might get a low early next week in preparation for the traditional (seasonally bullish) pre and post Thanksgiving day pop.

blog comments powered by Disqus