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Friday, December 3, 2010

Friday, After the Close!!!

Another Bullish day for the equities, and an absolutely horrible day for the Dollar, which closed near the low of the day at 78.19, down $1.13 and off by 1.42%. The strange part was equities showed little movement compared to the large move of the Dollar. The SPX was only down 0.26%.
There is a possibility that this 5th wave might finish-up soon instead of only the 1st wave of the 5th wrapping-up. The size now is quite large for only the 1st of 5, already over 50 points. 61% of the length of 3rd wave is approximately 114 points, leaving only 64 points for the 3rd, and 5th wave of the 5th up. Possible? yes, but over the last couple of years, 5th waves in this degree have a high truncation rate.
Most of my time this week has been centered around getting the Trendfinder set-up in a way that makes updating everyday quick, and providers readers as much information as possible in a timely manner. This part of the project is wrapping up now so I will be able to spend more time on the main part of the blog, as things are returning back to normal. Thank-you for your patience over the last few days as the regular posts were shorted with just a quick over view.
If you have not checked it out yet Click here, BTW, the Daily trends are already updated, and there is now Weekly trends as well. I will have lots of charts over the week-end as I get caught back up :)

2 comments:

  1. Columbia

    With your analysis - are you suggesting that this may be a final wave 5 up and we start a significant correction vs. continue to 1300 plus like most are thinking?'

    thx

    ReplyDelete
  2. Hey Scappy, right now reaching 1300 the SPX would have to do some more corrections in order to burn off over-bought condictions on the daily charts. Longer-term 1300 is in the cards if Ben has his way and we enter into hyper-inflation. Meaning that the Dollar will start printing lower lows. catch-22

    ReplyDelete