The market has finally turned its Trend Average bearish after a comfortable close below the TA. It's still too early to confirm a bigger correction until we see a stronger bearish wave that breaks through the 50 DMA and 2085 support. But a correction is looking favorable and likely as long as we see follow through selling early next week. Maybe bears will finally wake up?
I am keeping all my positions intact but added more China shares with the cash I had left. Corrections are to be expected but the global bull market will continue for as long as companies continue to grow their profits.
Have a great weekend!
For further analysis on the NASDAQ, DJI, RUT, Gold, Silver and Oil please visit http://www.ewaveanalytics.com
Short Term Trend = Bearish
Medium Term Trend = Bullish
Long Term Trend = Bullish
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