18 Nov 2014 - Still Higher Highs..

Yesterdays comment about the alleviation of the OB by time has manifested itself today.  Prices moved higher after a week of consolidating moves.  So far though I do not have any good news or indication of a top for my Bearish readers, at least not convincingly.  But going back to my important charts last night I feel compelled to feel bearish with the expectations that a move down will be strong and impulsive.  But my feelings need to be reinforced and validated, and without the indicators saying so, I am really just speculating of what could happen.  I am not smarter than the market, so we should respect its intentions instead of 2nd guessing it.

As for the H&S pattern, the higher high prices printed today negated this as I have talked about in last nights post.

MT: UP
ST: UP
PA: UP