The market closed at an all time high as bulls are gathering momentum to break out of range. If the current wave is indeed a W3, we should see substantially higher highs in the next week or two. With that said, a top is coming up soon and it's best to be cautious. In the last 5 years, we've seen a negative May every year with the exception of 2014. My longs are doing well but I decided to buy back VXX protection just in case. I want to enjoy the moment but want to avoid surprises :)
For further analysis on the NASDAQ, DJI, RUT, Gold, Silver and Oil please visit http://www.ewaveanalytics.com
Short Term Trend = Bullish
Medium Term Trend = Bullish
Long Term Trend = Bullish
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