I kind of have a theory that at tops, the waves transition from corrective to impulsive and vice versa. This is because some subindexes are in corrective mode while others have yet to top perhaps.
Friday, December 4, 2009
The SPX was about the only index, major or minor, that made a new low in the second push down Friday. That includes the Wilshire. It seemed to make a point to make a new low. Is that done to just confuse wavers? Beats me, but I'll take the bait and count it as a 5 wave move all the same. Its not a textbook move by any means, but it works ok.
Posted by Daneric at 9:56 PM