The market gapped up today in a bullish W3 wave and this move invalidates the bearish pattern that had been in place. I know the economy is good now, my business has been doing great. However, everything is cyclical when it comes to the economy and the stock market. So, I continue to expect a bigger correction once the bulls come to their senses. I didn't get a chance to stop out of my short position today but I will exit tomorrow or on the pullback.
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
No comments:
Post a Comment