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

PAYPAL

Friday 13 February 2015

13 Feb 2015 - Bad Luck To Bears

With Valentines day around the corner, it seems the market is giving the Bulls a lot of love.  The bearish scenario I was looking at since early January has not dissolved and all my signals have turned bullish.  The only thing that can turn this pattern or market bearish again is if the top here is a 5th wave of some kind.  Again with anything EW, a confirmation needs to happen and a draw down in an impulsive manner should be evident.  For now though the signs are bullish..  Can anyone find me a crow to eat? How do you cook them anyway?  never had crow before in my life.

MT: UP
ST: UP
PA: UP

To note, there are some divergences happening in the 60min chart.  So it is good to keep in mind a pull back on Monday.  Might be significant or might be an hour or so...  Do watch the indicators.

 


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