Gee, Think.

For those of us watching the elliot wave progression in the Dow, S&P, and especailly Nasdaq 100, this rally is a real fake out.  The recent rise in stock prices is part of a second wave up, during which investors believe that the market really could recover.  It’s some kind of denial psychology, or a back last from the exceeding optimism of recent years that just won’t quit.  So we get this uptick over the past couple days, but if my sources are correct, it won’t be sustainable. For more commentary on the “but” rally, read tickersense.typepad.com

This entry was posted on Wednesday, August 23rd, 2006 at 9:38 am and is filed under analysis, elliot wave principle, market. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.