The tipping point….

Posted on May 15, 2015 by in Uncategorized

0514spx

http://stockcharts.com/h-sc/ui?s=%24SPX&p=D&yr=0&mn=6&dy=0&id=p09524411098&a=266398464

Well. is this it finally?  Could be as we will see further down.  No question the SPX has made a higher high and has pierced the uppper trendline.  Given the unreliability (if not treachery) of the markets lately one must not depend on anything, and the way technicians deal with uncertainty  is waiting.  So we wait for confirmation of the penetration.

But it should be  noted the position of the marekt in the PnF system is exceedingly interesting:

0514spxpnf

The PnF method is on the verge of what is known as a triple top break out.  If the SPX  makes 10 points tomorrow it will be a buy signal and we will be buying.

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