Comments in this blog refer to my charts collection found at
For intra-week comments go there, updated more frequently.

Saturday, July 30, 2011

Weekend wrap- Nader for president.

The good news is that the market did not collapse on Friday and held 200 days moving averages as well as June lows. The bad news is that it may easily collapse next week and that would confirm for me the transition to a bear market. From the Elliott Wave analysis perspective it is simply a choice between two wave 5 outcomes as below.
The move in ether direction will be swift and totally news dependent.
We are in a window for this cyclical bull top and any further drop will be just a confirmation that a top was build up over the past several months and that will be as clear as it could be. In case of a surprising "solution" over the weekend a blow off rally to cap-off this bull will likely materialize in short-term.

From the political perspective it just becomes clear to everyone (if you did not know before), that we truly need protection against our own government, and the best idea I could find about that is that we should  mobilize and start molesting Ralph Nader to try another run for the Commander-in-Chief spot.

No comments:

Post a Comment