As expected, the market made another all-time high today and reached the 2370 target I mentioned couple of weeks ago. I see enough waves to call the wave structure finished but the euphoria might extend the rally a bit more before a substantial pullback. Considering the market initially plunged when the news Trump had won on Nov 8th, this rally seems to be out of touch with reality and sets up a nice environment for the end of the bull market as we know it. Whether it takes weeks or another year to top, it's impossible to tell. But what we can do is start preparing for the coming sell off to take advantage of possible bargains when despair sets in.
I bought back my short position at 2365 so I hope we will see a bigger correction soon.
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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