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

PAYPAL

Thursday 13 February 2014

13 Feb 2014

This crazy market gets crazier and crazier.  Just when everybody thought bad news is bad market, it has become good news for stock.  The negative divergence has disappeared and is now projecting an overbought reading suggesting it has room to push up.  Is this a bull trap? The only thing going for the bears right now is that longer-term it still has a chance but it will show itself tomorrow once the week is over.  The bears are running out of room and a reversal needs to be hard and fast.

MT: DOWN
ST: UP
PA: UP

We have 3 gaps that could be a possible target for a pull back.  2 of which is resting around a Fib level assuming that todays top is it.  But there is also a Gap that has been waiting since late Jan for it to get filled.  Will we fill that first?


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