“Those who have knowledge don’t predict. Those who predict don’t have knowledge.” Lao Tzu, Chinese philosopher, 6th century BC

PAYPAL

Thursday, 12 February 2015

12 Feb 2015 - OB

Signal stayed at OB all day, and acceleration up was evident.  We are close to the top and this is not looking good for the bears.  I did mention last week that the only way to eliminate a bearish count would be to exceed the current top but this is unfortunate since it is a huge move from the 1980s SPX to 2093...

ST signalled a move to the upside yesterday and the negative divergence that was evident yesterday is non-existent by this afternoon.  So this is how it goes, when one cannot explain based on their feelings or inclinations, one can always turn to the indicators that works best for them.

The only negative divergence left is on the 60min MACD.  This along with the daily charts volume that is also diverging suggest low volume on ramps up.  A disconnection for sure, but this does not help us with a trade, but just acts as a forewarning method.

MT: DOWN
ST: UP
PA: UP

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2 comments:

  1. obe12 February 2015 at 19:28

    I don't if you received my message. The YEN ($XJY) has been going the opposite of the SPX. Today it turned up

    ReplyDelete
  2. MP12 February 2015 at 20:34

    Sorry, no I did not receive any message.. XJY still in a downtrend but on a short term basis it is turning up. An exit of the OS territory will be good for XJY longs

    ReplyDelete

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