The market decided to end the year in a negative note and the break of support opens the door for a bigger correction next week. I was hoping to profit from my last trade of the year but I had to stop out unfortunately. Still, I think new all time highs should come in 2017 before the beginning of a real bear market that could last a while. Trump was somehow credited for the rally since Nov 8th and he will be blamed for the coming bear market for sure. The US is in uncharted territory with Trump being president. And while I see the benefits of having an outsider shake up Washington politics, I am somewhat concerned with some of his rhetoric as nobody knows what he will actually do.
Have a safe and Happy New Year!
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Short Term Trend = Bearish
Medium Term Trend = Bullish
Long Term Trend = Bullish