Prices tested the upper range of support at 2258 before staging a mild counter-rally for the rest of the day. Still, the pattern still can be an ABC move or the beginning of a 5 wave impulse, whatever it is, we should find in the next session or two. I am sure whatever the Feds do tomorrow will be used as an excuse for the next move.
For further analysis on the NASDAQ, DJI, RUT, Gold, Silver and Oil please visit http://www.ewaveanalytics.com
Short Term Trend = Bearish trend being challenged
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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