28 Feb 2014

Just when I thought the market was making some kind of nice daily reversal, the buyers step in.  Todays move is very confusing indeed in a candle perspective.  We have a 60min reversal doji pointing to the upside in the mean time we have a daily indecision candle.  So which is it?
Fortunately for the bulls the ST is still Bullish and I cant say anymore until next week.  Bulls won this round. 

On a intra-day basis the Stoch. has exited overbought range, but a divergence would allow price to make higher highs.  Will watch this for Mondays session to see if we get a sustained move in a intra-day basis to the downside.  This would surely turn the ST down if we get a negative day.

MT: UP
ST: UP
PA: UP

Nasdaq, Russell, and Wilshire indexes - Has pierced its weekly upper BB.
Dow - Is still below its previous highs and needs a substantial move
SPX - Was just short of touching its weekly upper BB