23 Apr 2015 - 2nd Wave Option

The 2nd wave option was eliminated today when price broke above the highs made in late Feb.  With a corrective stance, the other option is that this is a C-wave of a B-wave.  Prices on the SPX and Nasdaq could not stay above their highs, and have closed just below it.  We need a steady close above this resistance to turn this level into support.

Yesterday, the ST indicator along with the PA turned UP.  The trade risk was evident today that momentum was to the upside.  We can never know what the market has in store, but if we can decipher what the indicator might be telling us, we can then keep ourselves from a real mess.  As the Intra-Day stays in OB, we must assume the risk of acceleration to the upside still exists on the short-term trend. 

MT: DOWN
ST: UP
PA: UP