Bearish divergence in the /ES rsi

I'm about to flip over and go short with the development of a bearish divereged RSI reading on the /ES

EDIT: I covered my longs but was not able to pull the trigger and go short today.. I suspect that we may get an intra-day opportunity to get short tomorrow.

some interesting charts

I'm seeing bullish chart patterns in a lot of sectors. IYG looks to have formed a run away gap which implies an explosive move higher is on deck. Also the transports are pressed up tight against resistance on the verge of a break out. Base metals, ags. (MOO) etc. showing some sweet looking charts every where. /ES never got down to my 823ish and I covered and flipped long small when a bullish divereged RSI signal flashed on the 60min. bars. I'm holding long into the Globex session and hopefully wont get stopped out.

some nice symmetry patterns playing out

I'm still looking for that 823ish target on the /ES which could possibly get tagged by 9:30ish tomorrow morning. I'll be hoping to be able to flip long depending on how things look at that time.

short term short down to 823ish

I'm short small the /ES down to 823ish minimum while thinking prices will go higher intermediate term.

and while we wait for our upside objectives

here's a little video to bide your time....

AA telling us something ?

I believe the action in AA is suggesting the market is doing the reverse of "buy the rumor sell the news" (short covering) There are a lot of shorts trapped and building pressure to blow out positions as we move higher.

Market objective coming quickly

The IYG chart came down on washout volume and hit the lows with a glaring bullish diverged RSI reading. The bounce up came on ever increasing volume and reached it's RSI signal objective. Now a head and shoulders bottom pattern has emerged with confirming heavy volume on the break of the neck line. Momentum continues to press higher and the combo of covering shorts, government manipulation, cooked bank earnings and dumb money coming off the sidelines will see this pattern reach it's objective at 51ish which falls at the 200 day mva area. That is the point where I will get short again.

Looking for an area to get short term long

I'm hoping that we see 790ish where I'll get long for another test of that longer term trendline that comes across the weekly chart.

Corrected weekly RSI signal on SPX

Back in November I jumped the gun and expected a snap back rally back to the RSI objective area based on the signal that was flashing at that time. I wasn't paying attention enough to the cyclical wave patterns in the market at the time and there for didn't give the situation enough time to evolve. Looking back at things I'm now going to trade based on the idea that the true signal didn't complete until late February, which now calls for a minimum objective of 950ish. That also will be an area where the 200mva will come down and offer substantial resistance to this counter trend rally.
I'll be looking for a spot to get long the market in a small way.

Head and shoulders building

I remain ever hopeful that we are building a classic head and shoulders top on the /ES and expect to see price roll over and rest right on neck line support right into the unemployment numbers, which I hope will blow a hole through the neck line and send us on our way at least to the .618 fib area around 720ish.