17 Jul 2015 - A Bullish Close

The SPX has managed a bullish close to end the week.  Nothing is stopping prices from making a new ATH it seems.  However, as long as those "Lower Highs" are in place the bearish scenario cannot be ruled out.  These volatile movements is the most dangerous of all, therefore we need to be open minded to the fact that a turn down can quickly stop a bullish sentiment on its track.  So what are the scenarios, what would you do for each and everyone of those scenarios?

The opinion that I had about the move from late May to mid June as a corrective pattern is and has always been in the back of my mind, and with the moves the last few days, this is becoming more and more of a viable option.  Ultimately though, we cannot lose sight of the market being on borrowed time.

MT: UP
ST: UP
PA: UP

It is always important to note that while I have my own opinion or belief that changes regularly, the one thing that is more consistent in lieu of these beliefs are the signals the charts produce.  If you don't know how to look at it or use it, it is useless.