The rest of the hurricane…

Posted on Nov 07, 2012 by in Letters

http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=6&dy=0&id=p97142210271&a=214966864

We barely realized the ominous portent of our last letter, titled "The eye of the hurricane".   We were troubled  by the pattern but speculated that the stutter step might be the end of the downwave.  When we got a couple of power bars up we thought that marked the wave end.  Wrong. We kept looking for a fulfillment of the break of the trendline and trying to psych out  the pattern.

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