The market finally broke out of range and almost reached 2300 at the close. All other indexes, except small caps, reached all time highs and this could evolve into a much bigger rally that will reach 2360 if we see a 5 count evolve. My ultimate target for the rally that started in 2009 is within reach, but obviously, we have to keep an open mind in case euphoria gets out of hand.
I sold my position at 2297 and looking to buy back on the correction. I'm assuming the opening gap will be closed sooner than later.
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Short Term Trend = Bullish
Medium Term Trend = Bullish
Long Term Trend = Bullish
* Trends are not trade signals. Trends are posted for situational awareness only and does not take into account wave counts, technical or fundamental conditions of the market. While mechanically trading the posted trends is feasible, keep in mind that these are lagging indicators and as such are prone to whipsaws and I personally do not use nor recommend them to initiate or close positions in the market without taking