The market made a new time high as expected before giving up most of its gains. Today's peak is enough to call the 5 micro-waves complete but this needs to be confirmed with a break of yesterday's low at 2177.85. The main question now is whether the wave from 2147 is a one wave leg or will this evolve into a 5 wave event to substantially higher highs. I still think the market will rally as long as Obama is still President given his luck and the blame for the coming bear market will fall on Hilary or Trump. The good thing is whoever wins in November will be out by 2020 (considering they are both horrible candidates).
For further analysis on the NASDAQ, DJI, RUT, Gold, Silver and Oil please visit http://www.ewaveanalytics.com
Short Term Trend = Bullish
Medium Term Trend = Bullish
Long Term Trend = Bullish