Prices finally decided to make a bearish move that could evolve into a much bigger correction. The close was at support and we could see a bounce off these levels, but if support breaks tomorrow, then we could see selling accelerate for the rest of this week. I didn't get chance to short but I increased my gold position, which normally does well during correction so we'll see.
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