Prices continued to correct today in the same range as yesterday and I expect another push towards new highs before a bigger pullback. Hopefully I'll get to buy back my short position tomorrow at a new all-time high. The market is very overbought at this point and could use a good correction before continuing its multi-month rally.
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
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