The market lost substantial ground in the last few minutes of trade after Feds decided to raise interest rates by a .25 points. The TA is still technically bullish but the low invalidates the count I had been positing and now favors a change of trend as soon as tomorrow if the bearish wave from today is a bearish W3. The rise in interest rates should not have come as a surprise but this could be the excuse for a bigger correction in the near term.
Short Term Trend = Bullish 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
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