The market regained some of its losses from yesterday and is positioned to challenge all-time highs again tomorrow. However, if prices fail to reach a new nigh on this coming attempt, we could see a set up for the beginning of a correction with the current bounce wave being a B or a bearish W2. Whatever the case, I am staying clear of the market until I see a clear opportunity.
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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