May 22, 2013

Short term update

UPDATE: SPX500 climbing the stairs... and now taking the elevator:)
Roughly 30 points reversal from the high for now, FOMC often marks short term top/bottom, the indicators say the same, it looks like impulse 1-2-3 for now... So I think we have a short term top.

I think it is time to take profits...
SPX500 climbing the stairs... if it closes bellow support we will have ugly daily bearish candle, histogram divergence on the daily chart, MACD double divergence on the hourly chart. Short term target will be 1650.

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