The market went into a mild correction in what could turn out to be a W4. However, the overall pattern could also be a cup and handle, which points to much higher prices. Whatever the case, the bias is to the upside and new all time-highs could come as soon as tomorrow or Wednesday. I ended up buying back my long position, so hopefully the bullish bias continues until I sell :)
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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