The SPX seems to be forming out an EW 5 wave ending diagonal pattern with a characteristics of 3 wave moves in each wave. We still have higher highs needed but I would suggest caution...
We also have a reactionary date according to Cowan at Jan 18th as a 120 deg. between Jupiter and Saturn. I would give this a couple of days +-...
MT: UP
ST: UP
PA: UP
The Current indicators are on an up-trend and should be followed with caution, but in order to make sure the pattern is correct we should look for a drop right after the 5th wave finishes its 3 wave pattern or its 5 wave ending diagonal in a minute degree.
All signs seem to point to a market that is topping. How far we go down is still to be determined. But for now... My Stochastics are negatively diverging on most time scales.
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