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, January 23, 2012

Jan 23

Three swings and three misses. That's a strikeout.

The topping signal on the 60-min system that happened last week has now completely cleared without ever having a selloff. The strength of the buy signal on my Daily Chart has been enough to keep pushing the market up despite the shorter term (60-min) divergences.

It seems to me that the 'volatile/swing traders' market of the last 6 months has been replaced with a 'grinding/the trend is your friend' market.

Props to everyone (which is not me) who stayed long since Christmas.
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