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

PAYPAL

Tuesday 13 May 2014

13 May 2014

The bullish momentum has finally pushed prices of the SPX above the 1900 level.  The close however is below 1900.  For now this is not so important..  I believe we should try to push higher for an ending 5th wave.  I believe we are close to a CIT, but we should keep on our toes.  The ST is still bullish but making a negative divergence on the daily chart.  I believe that once the intra-day chart forms a negative divergence, you should see a turn down.  This turn down should tell us how impulsive it is.  Any hesitation to the downside might cause us to revisit our count and look to confirm a prolonged move higher.  We will revisit this when we get to that timeline.

MT: UP
ST: UP
PA: UP

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