16 Jul 2015 - Who Wins?

Apparently Greece voted yes on a worse deal than a previous submission that was denied.  Based on the market today, it seems everyone agrees that this was a great deal.  Time will tell I guess..  Bulls were also in the driver seat today breaking above the Gartley resistance we were observing the past few days.  Unfortunately, we cannot say for certain if this move is bullish until we make a HH.

With the Lower Highs dominating the price pattern, we need to be cautious of bearish motives..  The Daily chart has entered OB which is bullish and risk of acceleration, but the intra-day charts are in neg. divergence.  I would like to see the intra-day chart exit the OB range tomorrow and see the daily cross down at the least for a bearish trade.  If the signals stay in the OB range I would steer clear of any short trade until it has broken out of the OB level.

MT: DOWN
ST: UP
PA: UP