17 June 2014

Markets has closed undecided.  It's not to often that we get a non-call but today the ST closed at neutral.  Where an uptrend or downtrend cannot be confirmed.  The tight moving prices are evident in this sense.  We are stair stepping ever so slowly and have been forming what I would translate as a bearish flagging pattern.  The late post today of yesterdays analysis shows that we would need to finish off a c-wave move to the upside and today that requirement has been met.  Tomorrow however is a different story.  With the FED speaking and mixing sentiments and comments, it is not out of the ordinary to see volatility.  My take on markets based on the charts would see us moving lower, and maybe a test of the 1900 level. we have not tested this support since breaking out of it, therefore it would only be fitting.

Tomorrow, an acceleration up with a close positive would undoubtedly turn us bullish.  An acceleration lower and a close negative would continue our ST in the downward direction continuing  last weeks trend.

MT: DOWN
ST: NA
PA: NA