23 Jan 2015 - H&S With A Hint of Weakness...

Intra-day prices closed to the Down-trend.  This needs to push lower to affect the ST next week if it is indeed the impulsive move lower.  Some impulsive targets are shown to land near the 200 day ma and 1900 SPX.  The close today under the green-dotted trend line is encouraging for the bears as it is still acting as resistance that means prices is still respecting this line.

Now I don't really know if we are at a CIT, but the ST still remains in an UP position so I would wait for a turn down to confirm any CIT or reduce the risk that is.  If you are speculating and would like to put in a position, I would suggest a small one to start.

MT: DOWN
ST: UP
PA: NA

Notice our MT indicator is down.  This is also bearish Mid-Term, and even though lagging it can make a run that could become profitable for those who follow MT signals which was Down since early January.  When both MT and ST are in sync is where you will find the most ideal and low risk trade.