The market opened in negative territory today but was able to stage a rebound that should continue tomorrow and maybe even Wednesday. However, there is a good chance the market is rolling over and a break of 2415 will confirm this. For now, I remain short and looking to adjust my stop to the TA once prices go underneath it.
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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