tip toe the line

False start yesterday but nothing muuch to discuss.
It would appear that the 70 day pulse and the end of previous T structure are having effect.

Either this resolves with a push to new highs in June or we get a scary drop first.

Chart of S&P500 for 14 May 2015

Scrape on bye

Well, because of the bullish reversal yesterday we did not trigger a sell / cover and managed to limp into the close above the 2097 cover level.
Always worth being pragmatic on the flush down's in the mornings.

But if we gap down today, go with it.

Chart of S&P500 for 13 May 2015

 

head ripping off

If we are going up watch to see the action at the upper bollinger c 2125, also previous all time high.

Assuming positivity today I would suggest that a new T structure is now forming, possibly even stretching out to mid june and even mid july.

Chart of S&P 500 for 11 May 2015