This time without a chart as no surprise so far we headed up once again as expected and the outperformer is TECH clearly. The upside correction unfolds in an ABC wave and wave C up should end by tomorrow lat test as we are running again into the exact Saturn /Uranus opposition plus we have a Venus / Pluto square tomorrow as well. The Full Moon ( lunar eclipse is a few days away (9th) as we run into resistance again.
It might be we make it once again below the 40 level in the VIX to complete the 13 combo count as well. Intriguing is that the Trans Index is making new lows and testing the 200 month MA by that nwhich clearly is another indication for more trouble ahead. Currency markets ( especially the carry trade currencies show the clear pattern for higher prices hence lower stock prices.
Amazing was the congress hearing about the Madoff case - the SEC got absolute professional warning from Mr Markapolos already 10 years ago and ongoing for over 5 years and did not care to follow them up although the evidence was leaving no options. He basically said some very true things about the agencies as they do basically protect the big firms from investors and small competitors. Just the opposite of their obligations.
Wednesday, February 4, 2009
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