IMPORTANT - EW PATTERN

Since the June low of 2012, we have made a 3 wave pattern up which I have been labelling ABC for sometime now.  I could expand in more detail but for now this warning sign should be sufficient for those with EW along with Fib ratio knowledge.  The chart here I am showing is the final push to the current date Mar 14, 2013.  Price could move up higher as a possible overthrow but I would definitely say that its a risky move to go long here.

We have the following:

- Stochastics on a daily level looking to turn down.  Notice that even with the move up the Stoch. has crossed down.

- In EW the A=C ratio is a common pattern.  I would say so far so good...

- Volume has been declining while markets rally upwards while analysts and guru's say "To infinity and beyond".

- 1600 SPX is just around the bend and may not even get there if everyone is expecting it.  Could also be a good setup for a run down making a lot of bulls unhappy and holding the bag.

- Daily MACD is or has been forming a divergence since late JAN.  Usually a pretty good clue to whats to come next.  Check FEB - APR 2012 top,  AUG - OCT 2011 bottom,  JUN - JUL 2010 bottom, NOV 2010 - FEB 2011 top,  MAR - May 2010 top (flash crash), and last  NOV 2008 - MAR 2009 bottom (held the bottom since and hasn't looked back).

- Yearly overbought, Quarterly overbought, Monthly overbought, Weekly overbought, Daily overbought.

A turn down might not happen today or tomorrow or next week, but this is not a game of "CHICKEN".  So this is just a lesson on what to start looking out for...

I don't want to say CRASH, because once you say it, it won't happen.  Therefore I am hoping that Murphys Law will turn it around for me for not saying it.... LOL.