A lower low was made today but the same bias continues. It seems the wave from the (iv) is not done and we could see a rally as soon as tomorrow if today's low holds. And again, this 5th wave could turn into a bullish W3 if we use the most bullish count so if you are shorting keep that in mind.
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Short Term Trend = Bullish
Medium Term Trend = Bullish
Long Term Trend = Bearish
* 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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