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

PAYPAL

Friday 14 February 2014

14 Feb 2014

I was seeing green instead of red for valentines day.  We seem to be oh so close to covering the gap at 1845 SPX today.  Seems someone just playing with us. Our MT has turned Bullish albeit near a top from my belief, but the MT would be in a negative divergence if we make new highs for the SPX.  So watch for this next week.  If we do not make a run down next week, I would be inclined to go with a extended 5th wave pattern to new highs.  How high?  For now its the 1860 to 1890 range.

The price stalled on one of our angles, and the pull back by the end of the day was weak, which leads me to believe that we are still working at higher prices. The DOW might not have the same sentiments and this time the contradictory pattern might just be the answer (non-confirmation spells trouble).

MT: UP
ST: UP
PA: UP



Notice that the NYHL MACD has been diverging from its cumulative trend and the NYSE.

3 comments:

  1. weird thing is gold price going up along with stock price....any thoughts on gold?

    ReplyDelete
  2. My belief is that Gold still needs to make a new low. Commodities might rally while stocks tumble but they will eventually align with equities and turn down in the end.

    As shown in this link
    http://solarcycles.files.wordpress.com/2014/02/14fe4.png

    ReplyDelete
  3. perhaps a mini pullback from the current runup in gold while major indexes goes for more gains

    ReplyDelete