The market follow through on its rally and was able to turn its Trends bullish. Also, the close today is above the 50 and the 200 DMA, which incidentally just had a golden cross. Unless bears sell off strongly in the next week or two and make a low below 1993, the bias is now turning bullish on continued trade above 2060 level.
I will be going long on trade above 2060 after a correction.
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 = Bearish trend being challenged
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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