“Those who have knowledge don’t predict. Those who predict don’t have knowledge.” Lao Tzu, Chinese philosopher, 6th century BC

PAYPAL

Friday 16 November 2012

16 Nov 2012

Rally by the afternoon.  We are heading towards the 1380 range for SPX where the 200ma is waiting for us.  Consider that we are in a bearish trend and we have the SPX 60min closing in on the overbought range and the SPX RATIO already at overbought.  Keep in mind any turn down should be a good opportunity for shorting.

Chart below still on track, but the direction of the arrows are just approximation and not a fact.

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