Prices have closed again above the Trend Average but there wasn't enough momentum to turn the trend bullish. Still, the pattern fits a W4 and we should see a higher high to complete the 5 count. Once we have the waves in place, we could be looking at an Inverse Head and Shoulders that will easily get past the all-time high at 2400.
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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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