19 Jun 2014

Markets are still hung-over from yesterdays FED speak.  Higher highs to come, and could extend till next week before a pause.  There is really nothing to add today other than we have a negative divergence on the daily chart of the SPX.  We are also reaching the upper trend line of the wedge that has been forming since mid April, and the longer term upper trend line that has been forming since last year in June.  All these trend lines are converging and could see a reversal.  Until then we are watching our indicators.

MT: DOWN
ST: UP
PA: UP