Thursday, May 29, 2014

Another All Time High

I don't have much time today to write as I am on my way out. But basically, the W4 I was hoping for has not materialized and instead I see the W3 extending. The market is already close to my original target for the complete 5 wave structure, so if we get 5 waves we will probably see the market reach into the 1930's. I bought back some of the short positions I sold on Tuesday in case we do get a W4 in the next session or two.

For further analysis on the NASDAQ, DJI, RUT, Gold, Silver and Oil please visit

Short Term Trend = Bullish
Medium Term Trend = Bullish
Long Term Trend = Bullish

* Trends are not trade signals. Trends are posted for situational awareness only and does not take into account wave counts, technical or fundamental conditions of the market. While mechanically trading the posted trends is feasible, keep in mind that these are lagging indicators and as such are prone to whipsaws and I personally do not use nor recommend them to initiate or close positions in the market without taking into consideration other factors.

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