7 Mar 2014

We are still in a Bullish setup, but I think its not far now for a turn down whether short-term or long-term.  As I said yesterday a flat topping pattern is not convincing enough and should make higher highs.  Todays pattern suggest more higher high because of the EW 3 wave (corrective) nature.  I could be wrong but picking tops at this point is high risk so the best way is to find a turn for the downside for a better trade.  Our ST is still also on an UP-Trend so we should let it play out.

I will post a wave count of the Shanghai Composite this weekend and based on my counts and indicators, its not looking good.

For now all we can say is that the Angle that we have for the chart below is acting as a strong resistance since the 18th of Feb.  As prices have been rising it has not broken out of this price / time value.  For many Cycle Analyst, the ES has hit its target (1887) but as far as Cash is concerned it has not.  Therefore I am speculating that Monday might be the 2nd try for Cash to catch up.

I was hoping for a CIT yesterday or today but to no avail so we will try again Monday.  We can't force the market to do what we want it to do. So remember to just follow it.

MT: UP
ST: UP
PA: UP