Dec 27, 2014
Last week SP500 closed above 2060 and the bearish weekly candle was negated. Now back to the idea for marginal new high before a bigger correction. The alternate scenario is blow off phase... personally I do not think that we will see such move when everybody is on one side of the boat. Watch the price action - if I am right in the next weeks we should see a higher high with divergence and the price breaking below 2060... ideally we should see some indexes like DAX and NYSE not confirming the new highs. If you are a super bullish support should hold and another strong move above 2100 should follow.