The bullish madness has continued with yet another all-time high. The target for the cup and handle pattern first identified last week has been reached without much of a retrace. Also, the micro-count is as stretched as it can be, so I expect a stronger correction as soon as tomorrow. I hate shorting bullish trends but I had to do it today at 2134, so hopefully we will see a test of the Trend Average coming up soon.
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 = 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
No comments:
Post a Comment