The market finally made a new all-time and quickly reversed to make a low at 2415 before bouncing back to end the day basically even. With this new high and the break of 2424, there is a high probability the rally is over, so we'll find out in the next few sessions. I went short at 2427 and putting my stop at 2446. I might buy some more gold or the silver I sold last week. If I am correct about the top, we should see some panic coming soon.
For further analysis on the NASDAQ, DJI, RUT, Gold, Silver and Oil please visit http://www.ewaveanalytics.com
Have a Great Weekend!
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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