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

PAYPAL

Friday 21 February 2014

21 Feb 2014

The SPX tried again today to break that angle we have drawn and indicated that was a good resistance for current prices. Also to note is the continued disconnect with financials in todays session is throwing a red flag for me.  See last nights post on participation of financial index.  Our ST is also down but not out of overbought so we should watch for this to give us a clue if markets have enough juice to push prices up to new highs.  Either way I think risk is to the downside.

MT: UP
ST: DOWN (OB)
PA: UP

 
Financials are looking much more bearish.


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