The market finally made a higher high today on what should be the beginning of the 5th wave. I am counting the micro waves today as a bullish nested 1-2 set up so prices must breakout early next week. I am raising my stop to 2163 and hopefully to slightly profitable on the breakout. I suppose traders will be using the weaker than expected GDP numbers as an excuse to rally since this translates into low rates for the foreseeable future. Where this gets interesting is what happens if the economy goes into a recession.
Have a great weekend!
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Short Term Trend = Bullish
Medium Term Trend = Bullish
Long Term Trend = Bullish