The market sold off earlier in the morning but a bottom was found at 2151 and the market managed to rally past resistance. The market is bullish but I will be more confident in continued upside once 2180 is cleared in a 5 wave count impulse.
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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.
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