The market broke out today as I was expecting and seems to have completed one 5 wave micro-count to top at 2311. If the rally is going to continue, I assume there will be a correction to test the opening gap/TA and then resume to higher highs. I sold today at 2308 and will buy back on the correction with a stop at 2285.
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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