The market has continued to struggle and it has closed under the 50 DMA for the first time since November 2016. If bulls fail to re-capture 2350 in the next few sessions, there will be substantial downside in the next few weeks. I went long at 2343 with a stop at 2337, so we'll see if the market can reverse itself tomorrow.
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
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