Spring springs eternal….

Posted on Apr 29, 2012 by in Letters

The entire chart is a reminder of where we came from -- the broken trendlines from October -- and also the broken long term downtrend line from 07.  Trendline D, the last short term downtrend line is the star of the piece we often call the alpha-beta--gamma--zeta wave --except there was no gamma (or C) wave.  It appears that the little consolidation here may have taken the place of that wavelet.  Remembering always that sidewaves can take the place of up or down waves. Last week's action was constructive as is the breaking of the D line.  This pattern was repeated in many indices and stocks.

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