Another Massive Chart Dump / P2 Analysis Wrap-Up
I wrote the first iteration of this post here (A Massive Chart Dump - P2 Analysis Wrap-Up) on Aug 29. There are three main reasons why I wrote that post at that time, saying that the end of P2 would be soon:
1) There was a 5 wave count up from the Aug 18 low that could possibly have served as a C wave to finish P2 (obviously it didn't)
2) There was a possible ending diagonal setup the I identified here: So the Diagonal Walks Up to the Two and Says..., that had a possibility to pan out (obviously it didn't)
3) Our first born child was due any day (was actually born on Sept 3) and I knew I would not have time to watch the market anytime around then. So I figured I might as well write a post calling for the top soon, because I might not get a chance while it was actually happening :). LOL!
Well, as we all know, Mr. Market does not do anything obviously. And since then we had a big pullback, then a big rally, then a dramatic and confusing spike with a large pullback. ... which brings us to now.
So what is up?
That is what I will explore in this post. I will most assuredly not be getting this 100% right (I make mistakes in my calls just like everyone, I just admitted to several in the paragraph above). But in the past few weeks we have received a few glimpses of what Mr. Market's intentions may be. And I will give my interpretation for all who are interested. Hopefully it is useful, or at the very least, an entertaining read :)
... On to the analysis!
Original post here: http://marketthoughtsandanalysis.blogspot.com/2009/09/another-massive-chart-dump-p2-analysis.html
..... Continued in comments section .........