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


Wednesday, 13 November 2013

13 Nov 2013

We have our higher high today on the SPX.  The patterns seem to suggest the mentioned ABC in 3wave zigzag formation.  The daily stochastics has also made a negative divergence with price.  So we should watch for a reversal.  If this is a C wave pattern down then it will be an impulsive one and most likely in 3 wave format as well.

Main-Trend: DOWN(Unconfirmed)
Short-Term: UP (Neg. Div.)

Remember that we should always wait for any of our indicators to confirm.  So if you are going short a daily or intra-day trend should be in the down-trending position.

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