21 July 2014

The MT indicator has closed on a bearish note for 2 weeks and we are still negatively diverging.  We should see if the ST will give us that impulsive move to the downside to kick things off.  We presented last week a bearish alternative that could play out but it would have to break the lower trend line that is giving a good case for a triangle and a risk for higher highs at the moment.

MT: DOWN
ST: DOWN
PA: NA

Bearish Alternative: