CAC update (from yesterday)

cac july 3 2014

See also previous blogs! The 40 peaked right at the end of this “diagonal” wedge pattern. If it does what it should the index should drop at least to the base of the pattern, that is about 4050. As it peaked at about 4600 it will then have lost 550 points or roughly 9%. We will watch it closely to see how it does this if it does this. Stay tuned.