The market rallied as I had been expecting but now we have to see if this will be a new 5 wave impulse or an ABC move from 2354. I am leaning towards a 5 wave impulse as I think there is room to rally until about May but I am also raising my stop to 2376 on my longs just in case. Maybe the market can get to 2500 and then make a major top?
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
* 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