The market made a record close today and looks like a new all-time high is coming as soon as tomorrow. The recent sell-off definitely had me fooled but the fact remains that seasonally speaking, this is about the worst time to go long. I did however close the shorts from yesterday at break even when the sideways correction became clear to me. I will make another attempt on the next bullish leg.
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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