8 Jan Mid-Day

We have a higher high.  Trend following arrows quite well in direction.  We almost have a 5 wave pattern from this move from yesterdays low, but its in a minute degree so its not impossible that it could be done.  Our 60min SPX and SPXratio are in overbought territory and wants to cross back down.  A 60min divergence will allow for higher prices to develop and finish the 5th wave of this degree that we are expecting.