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

PAYPAL

Thursday 22 May 2014

22 May 2014

The last hour move in the SPX is suspect for a move lower for tomorrow.  But I still do not know if it will make a difference in the CIT in the ST by weeks end.  A sustained move should change sentiments, but for now we must respect the trend signal we are given.  Reacting to quickly sometimes keeps us from making those extra pts. /  profits.  Intra-day charts still at overbought and couple that with an upward ST and we have a good uptrend strength.

MT: UP
ST: UP
PA: UP

Something to note also is that on the daily chart there is a narrowing of the BB line and usually attracts fast moving prices.


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