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

PAYPAL

Tuesday 17 June 2014

16 June 2014

Sorry, but I thought I posted this last night like I always do.

SPX looks to be forming a bearish flag pattern.  We would need to see the break lower from the red dotted line to confirm this of course.  An EW subwave abc might be forming for a bwave (red) before a lower priced c-wave (red) for a 4th wave end (blue) or a 3rd wave lower depending on how impulsive the move lower is.  The attitude of the price movement matter a whole lot and anyone analyzing a chart should keep an eye on it.  It is one of the most important EW analysis that can truly help you make your profits.

MT: DOWN
ST: DOWN
PA: NA

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