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

PAYPAL

Tuesday 24 March 2015

24 Mar 2015 - He Said She Said

The cash market and the futures market for both SPX and ES seems to be in disagreement with each other.  I noted this a few days or a week back, and have been noticing it more and more.  The disconnection is not worrisome per se,   But clearly both are on two different camps.

I cannot say who is leading and who is lagging.  The ES though is on the bearish trend into the close of market today while the SPX is still on a bullish trend by the close.  Maybe the SPX will catch up by tomorrow since its intra-day signals are in OS range.  So far though by way of price action, the higher high in price that I was expecting is looking less likely if the acceleration or the bearish trend in the ES affects the SPX cash.

Perhaps this is the 2nd wave that many are looking for and should produce a very very impulsive move lower.

MT: UP
ST: UP
PA: DOWN

The current price support is being held by the 200ma in the 60min chart followed by the 75ma just under it.

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