Little triangle done?
I don't know. wave d of the triangle could have been a triangle as well. If wave e of a wave 4 triangle finished midday, then wave 5 truncated and the market is about to turn lower sharply. MACD and Stochastics are giving sell signals.
What I don't like is the way KIM sold off the second half of the day. KIM, a REIT, also had above average volume, and heavy selling in the final hour. Real estate is one of the last bubbles to pop. Today may just be signalling pin hitting the real estate bubble.
Dell made one last attempt to make new highs, but not the $43 level I was looking for a couple weeks ago. Maybe DELL truncated?
Something doesn't feel right about the wave counts. What's worse is the financial media. The Santa Claus rally was never on the front page news, never materialized, and the disappointment never reported. The news and wave counts are coherent.
