A Day Flush With Soon O-U-T of the Business Bulls ~ The Risk Averse Alert

Tuesday, July 13, 2010

A Day Flush With Soon O-U-T of the Business Bulls

Yesterday's suite of technical things only modestly improved today. Glaring disparities to their respective wave (a) of (2) peaks remain intact. Still, improve these technical things did today.

Participation's expansion (i.e. advance-decline) surely is an Elliott third wave characteristic. Its increase at this late hour in the life of a fraud-rife casino is most fitting, too. Accounted for now are those burgeoning suckers who time and time again step up to the plate just in time for a fleecing.

Yet consider those still intact technical disparities as upside potential soon to be gained as the market's climb off June 29th bottom likely continues ... after a brief pause ... which could have started about fifteen minutes before today's close...

OEX 5-min

RSI provides fine substantiation for the wave count above. Now, expect it to fall below its worst registered last Tuesday during formation of wave 2 of (c) of (2) of big, bad wave (C) down from October 2007 top. This should coincide with formation of wave 4 of (c).

Subsequently, all too likely, it will be bringing in the sheaves with wave 5 of (c) and CNBC yet again a nightmare of bullish analysts soon to be o-u-t of the business.

Fast Money
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