25 Jul 2013 ‚óŹ 06:47 AM

S&P [1685] - is still to achieve the targets I discussed but appears to be completing a 5 wave advance and short term indicators started going to a sell. Some times prices can still stretch a bit with negative divergences but we are getting closer to the end of a long 5 wave rally with very high sentiment readings that the next correction must be of larger degree.


The weekly chart sports a negative divergence for the current move on RSI and the arithmetic chart sports a perfect channel for a A-B-C advance completing. The upper end of the channel is at 1720 making the risk reward favorable for bears here.


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