18 Feb 2015 - Lower, Lower Time Frame

SPX prices did little today but lower time frames suggest the corrective moves are not done.  But any move from the ES futures could change that by morning.  As it stands, the ST has not changed in the opposite direction and with the OB picture at extremes it is more likely to accelerate to the upside.  Current moves up from the Feb. lows do not show a complete 5 wave pattern.  So something to watch out for.

MT: UP
ST: UP
PA: UP

Any play for the lower time frame short should only be done on an intra-day basis as the MT and ST are still trending UP (We do not want to go against the trend).