The market technically went into a correction today but it was mostly sideways. So the pattern might turn out to be a bull flag with higher highs to come sometime next week. Long term oscillators have reset enough in the past weeks to produce another substantial rally next month, so it's best to just stay long as long as the TA is bullish. I normally would have sold some longs but I think I'm going to hold until the trend changes again.
Have a great weekend!
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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