3 Sept 2014

The impulsive move to higher highs on a daily basis has closed on a negative.  Can we repeat this pattern of higher highs in the morning then give back some by mid to late afternoon?  The consolidation have been up to sideways, and I can't really say which EW pattern we are in.  But I am still suggesting that the current moves in prices in the SPX is corrective and that higher high should proceed.  We would need to exit the overbought signal to consider a pattern break to the downside.

MT: UP
ST: UP
PA: UP