I'm watching the G20 protests, but there is little to say other than I expect this is only the beginning. If we are truly in a nice Suckers' Rally, then I would expect them to fizzle or at least not turn too violent. When the downtrend resumes, one might expect uglier outcomes.
And speaking of downturns, the following chart of the Case-Shiller Composite from Calculated Risk caught my eye today:
I know this is a chart of percentage changes, not of a discrete index, but that sure as heck looks like a five-wave pattern developing in the price change trend. Maybe it means we have a few more months of serious percentage declines and then the declines, while still there, stop gapping down by 20-30%, but during an A-B-C retracement dink and dunk along at single digit declines or occasional gains.
Or maybe I am seeing a Wave Pattern where there is none.
Food for thought. My trading history certainly doesn't qualify me to proclaim myself an expert in Wave Pattern recognition.