What Everybody's Talking About...

So I'm going to post my thoughts on the waves that are rolling in, and no not the waves filled with oil hitting my precious gulf coast (there goes the post graduation vacation... although the Florida springs are better than the beach in some respects, plug for Ginnie Springs!).

I told you I couldn't wait to see... this is what I saw.



Here's a close-up of what I'm looking at for the past couple of days.



When you look at what happened on the 30th it's a little tough to say what has transpired. I've heard a 1-2 1-2, which sounds just fine to me. That would place us near a 3 of 3 of 3 situation which would rocket to the downside and be a nice little Birthday Present for me... that's right, May 3rd... presents appreciated.

Regardless of the squiggle count from the 30th, I would say that chances are excellent that we exceed the low from the 28th. I'm not ruling out an ABC correction as you can see.

Here are some charts that show the extreme bullishness, and the ever increasing possibility of declining index values.





On a lighter note...

This is why it will take months to close BP's leaking oil well.



But that's OK, there will be new jobs created studying gorilla's.