Thursday, July 5, 2012

Intermediate trend bullish confirmation

Not much to add today since last week's forecast seems to be in the works. The market is in a W4 and the intermediate trend is now bullish, so all 4 trends I follow (long term, intermediate, 13:34 EMA and Trend Average) are firmly bullish. So I expect the market to correct a bit more in pre-market or tomorrow and then start the 5th wave to the target area I had last week (1378-1388). I've been long and staying long but will short to hedge once the 5th is finally in.

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