13 May 2014

The bullish momentum has finally pushed prices of the SPX above the 1900 level.  The close however is below 1900.  For now this is not so important..  I believe we should try to push higher for an ending 5th wave.  I believe we are close to a CIT, but we should keep on our toes.  The ST is still bullish but making a negative divergence on the daily chart.  I believe that once the intra-day chart forms a negative divergence, you should see a turn down.  This turn down should tell us how impulsive it is.  Any hesitation to the downside might cause us to revisit our count and look to confirm a prolonged move higher.  We will revisit this when we get to that timeline.

MT: UP
ST: UP
PA: UP