Monday, December 30, 2013

Market Update

The market has continued its "correction" and it seems ready to challenge 1850 so we might see another bullish wave to a new high starting tomorrow right or on Thursday to celebrate the New Year. Whatever the case, I expect a real correction after the current wave from the 1768 is done. My guess is we might revisit the 50 DMA again on the next pullback, we'll just need some catalyst to bring back the bears.

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 into consideration other factors. 

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