19 Dec 2014 - Whos Buyin' This Crap?

Before I go on with the analysis, I thought I would share some article from Zero Hedge that I found interesting and for some of you who haven't read it, here are links.

http://www.zerohedge.com/news/2014-12-19/just-one-question-about-yesterdays-last-minute-berserk-etf-freak-out

http://www.zerohedge.com/news/2014-12-18/how-fed-masterfully-punkd-algos-stock-buying-frenzy

http://www.zerohedge.com/news/2014-12-18/fed-grandest-con-job-history-world

http://directedge.com/Alerts.aspx

Now back to the market.  Although the SPX and the ES did not make a new all time high, it is at the doorstep again.  Like an annoying salesman coming back over and over again.  When will it go away?  Well, the answer to that would be when the FED wants to.  The high volatility is or was expected and it makes our indicators lag due to price movement in a very short time period.  Indicators are not volatile and move with time and set parameters.  Price on the other hand is a different story as seen from the last 3 trading days where we went from OS to OB. 

Due to the volatile nature of the indexes, it is better to play the individual equity, where the indicators are a bit more reliable during this time. 

A new high next week followed with a lower push would cause the Weekly charts to negatively diverge.  If this triggers the market to sell, then expect a few weeks to a month of selling.

The move today does not alter any wave count structure yet, but its becoming less likely by the day...

For now though, the bulls are in charge of the game or the FED for that matter.

MT: UP
ST: UP
PA: UP