The market bounced today in what seems like a W4, so perhaps a lower low will be made that will end up testing the rising 50 DMA at 2328. Since March is coming to an end, a minor period of consolidation before one last rally to new highs around May would be ideal. We should find out in the next week or two.
For further analysis on the NASDAQ, DJI, RUT, Gold, Silver and Oil please visit http://www.ewaveanalytics.com
Short Term Trend = Bearish
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