CP quick update

cp mar 13 2016

If you sold today at >$185 you would have gotten at least $187 or so. As mentioned this one could go higher by another $10+ but we would caution the longs that this thrust can turn around in the blink of an eye. The RSI is entering overbought territory for the first time in a long time and if the triangle is correct, a drop back to $160 is next as a minimum. By the way, the entire triangle can be moved one step to the right if you prefer.

P.S. Today’ high is at $193.88 that is up almost $9 on the day. This is clearly a “thrust” and most likely  a third wave at that. $200 becomes more likely but I am always too cautious.