The 5 count was invalidated today but the market found support right above the support layer I mentioned yesterday (2045-2050) and rallied back to the Trend Average. The short term bias remains bearish but if the low today (2053) holds, we will see a rally towards the 2100 level. If bears manage to breach support then a 200 DMA at 2012 test is almost certain. I was hoping for prices to reach the 2045-2050 band to lower my risk for a long position but unfortunately prices did not get that low.
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Short Term Trend = Bearish
Medium Term Trend = Bullish
Long Term Trend = Bullish