The market managed to mount a decent counter-rally to test the declining Trend Average in today's session. If the TA is re-captured, the bulls have a decent chance of staging a good rally to top in May. But if prices can't get past resistance, then we will see further downside to come in the near future. I am going to be patient and jump back in once the market makes up its mind.
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