The market finally went down more than a few points in today's session. The loss today was the largest this year and it was only 14 points! While it's too early to call for a substantial correction just yet, I am assuming there is a good chance support at 2358 will be tested if the market fails to bounce tomorrow. After a non-stop bullish run for almost 4 months, the market is due for a real pullback.
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