The market experienced some selling early in the morning only to rally back and end the day flat. Continued sideways trading should be expected until a clean break out/break down occurs. Until then, I will be waiting on the sidelines to avoid any surprises.
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Short Term Trend = Bearish
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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