The market was able to reverse the bearish set up mentioned yesterday and there is now hope for a bottom. The pattern printed today looks like an inverse head and shoulders and we could see prices rally back above the 50 DMA at 2165 next week. With that said, if the counter-rally fails to recapture the 50 DMA then this week's low is likely to be tested again. At this rate, maybe the market will make up its mind by the time the election is over. And not that it matters much since I think it's almost a given at this point that Hillary is going to win. Trump dug his own political grave with his motor mouth and his small hands. The GOP better get an electable candidate next time or else it will be 16 years of Obama/Clinton.
Have a great weekend!
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Short Term Trend = Bearish
Medium Term Trend = Bullish trend being challenged
Long Term Trend = Bullish