The market made a slightly lower low in the morning but managed to erase all losses and end the day just 1 point below the all-time high. A new ATH next week seems very likely before a bigger correction takes place. The economy is fairly strong at the moment and sentiment is very positive, so prices could keep going up for a few months. However, this is technically the last leg of the bull market so maybe by next year or so this will all be different.
Have a great weekend!
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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