16 Apr 2014

We are now watching to see if a turn down occurs for the SPX tomorrow or next week.  The Momentum has pushed to oversold while prices still remain lower than its previous April 9th High.  Can price overcome this important pivot?  If so, then markets will undoubtedly make a new high in my opinion.  An acceleration down below this high gives hope to the bears that are looking for lower prices.  Prices for the SPX has also closed above the 60min 200ma.

MT: DOWN
ST: UP
PA: NA