technical update : ecn, page-2

Hi Marty

I haven't posted recently as my technical analysis is pretty much the same as my last couple of warning posts. Basically I still do believe that global market tops are in place and on the S&P500 we either have Wave 2 back up to around 1500 already completed (this is scarey as it means the next leg down is a Wave 3 and it has 1300 written all over it with more to come) , or we are still working through Wave 2 in a more complex way and depending on how deep it goes, we could have some short term relief back up to anywhere between 1500 again or as high as 1530 or so . If my latter count (my preferred) is correct, all it is is a delay of the inevitable anyway as per scenario 1.

As for AIM , it wont be immuned to a market crash for reasons I have already detailed which has nothing to do with the quality of the project itself. As per usual AIM has retraced down more than expected yesterday and at 26c is pretty much at maximum depth (25c is max) for me to hold onto any minor hope of new highs being achieved. If they are going to get 31c for the next placement, some sort of rabbit out of the hat needs to occur and quickly. So medium and long term I'm not overly optimistic, mainly due to the consequences of a global meltdown which I believe we are now in as per previous posts. Short term (lets say over the next week or two) I'm hoping for a bounce ala my second and preferred count above on the S&P500. My targets for AIM on this bounce are around the 35c mark (a bit less than before (36-37c) due to the fact that we hit lower at 26c yesterday. For this to be achieved though AIM had better get a move on and my scenario 1 above on the S&P had better not come to fruition over the next couple of days. Short term Divergence on AIM and S&P500 are both presently bullish so this is helping back my short term bounce theory - but nothing is full proof !!!! I personally wish someone would make an offer on AIM and quick smart - I'll take 50c no probs !!

Good luck with your personal decision making.

Cheers ECN.