New high next week?

The market put in the C wave I speculated about yesterday and it bottomed in the mid 1830's area before climbing back up to close right on the Trend Average. So now we have enough of a correction for the market to start the next bullish leg and perhaps put in a new all time high next week. The market is free to do another Zig Zag before launching but oscillators have been reset enough for a bullish W3 which if it happens will likely turn the daily MACD back to bullish. I think sentiment is overwhelmingly positive at the moment with some shadows of pessimism here and there but the path of least resistance continues to be up. I ended up buying ZIV (short int volatility) for the first time and I'm hoping to see that bullish W3 next week to see how it does. My plan this year is to use ZIV as my primary short term long and VXX as the hedge, that way I keep things simple and hopefully very profitable.

Have a Great Weekend!

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.