Prices finally moved out of range as expected and the close was substantially above the Trend Average. If the market is able to follow through on today's rally in the next few sessions then we can assume the triple bottom is in place, specially when the 50 DMA at 2168 is recaptured. The Obama administration is on track for being one of the best ever for the stock market. The question now is who is going to get the blame for the next stock market correction/crash. And not that they deserve the blame but we all know most people are going to blame the next President.
For further analysis on the NASDAQ, DJI, RUT, Gold, Silver and Oil please visit http://www.ewaveanalytics.com
Short Term Trend = Bearish trend being challenged
Medium Term Trend = Bullish
Long Term Trend = Bullish