I was under the impression the markets were going to be closed today because of Veteran's Day but I guess not. Anyway, the W5 impulse I've been anticipating has yet to materialize and the count is running out of time. So unless the market stages a strong rally in the next couple of days, chances are the top for the wave structure from 1871 is in. Confirmation should come in the break of this week's low at 2068. This has been a long rally and a substantial correction should be expected but it would be nicer if the count completed so I could short it at the top.
For further analysis on the NASDAQ, DJI, RUT, Gold, Silver and Oil please visit http://www.ewaveanalytics.com
Short Term Trend = Bearish
Medium Term Trend = Bullish
Long Term Trend = Bearish trend being challenged
* 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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