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Tuesday, December 13, 2011

Tuesday, 12/13/11 update

What the ............... was that? Didn't expect the drop today. Possibly we're seeing a triple zig zag Minor Wave 2 from the Dec 8 top as per the chart below. The other possibility is that the pattern since last week's top is a series of waves 1 & 2 of a developing downtrend, which would portend some pretty serious bear activity in the very immediate future. Haven't worked up a chart for that.

A close above the downtrend line on the below chart would be a first indication of a bottom being in place and a resumption of the up trend that started on Nov 25.

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