The triangle count holds with DJ and SP completing 5 waves within. In Elliott terms the 5th wave within a triangle can and often does move beyond the 3rd. This was the case today.
Thursday, March 10, 2011
3/10 12:45
The market fell, deluged with negative news that highlighted the lack of a global recovery. Asian central banks and Australia are raising rates and ECB is primed to do the same. I'm sure this just reinforces Ben's self-righteousness. Keynsian conditioning is hard to break, but other spendthrift governments in Europe are facing the unintended consequences with clearer eyes. Watching the Dem Senators I was struck with how ignorant they truly are, giving speeches on how dangerous it would be to reduce our budget deficit from 1.65trillion to 1.59trillion. I don't suppose anyone is watching the bozo parade up to the podium, but it instills in me the firm conviction that it will take more than a government shutdown to sober up these drunks.
The triangle count holds with DJ and SP completing 5 waves within. In Elliott terms the 5th wave within a triangle can and often does move beyond the 3rd. This was the case today.
This interpretation is the only way that I can reconcile I1 with the wave count. Until these lows are taken out I'm bullish.
The triangle count holds with DJ and SP completing 5 waves within. In Elliott terms the 5th wave within a triangle can and often does move beyond the 3rd. This was the case today.
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