SNC Lavalin Group revisited

snc may 27 2014 bsnc may 27 2014

The big picture, the one on the left, allows for at least two different interpretations depending where you put the top. Also , if you are in the DOW 40000 camp, it is not that difficult to “see” a triangle forming that requires just a little e down before we get the thrust up to $85 or higher. We are NOT in that camp, partly because the short –term chart, the one on  the right is decidedly unequivocally bearish. It is a near perfect a-b-c counter-trend rebound that is done. A break of $48 should confirm this but we would not wait for that. A sell now.