Prices managed to make higher highs today and ended the day closing just above the TA. The next bearish wave, which could come as soon as tomorrow, should give us an idea of whether the bottom is in for the "correction" in the past few days. Failure to break support will solidify the case for a bottom and will set the base for a rally to challenge ATH this month.
For further analysis on the NASDAQ, DJI, RUT, Gold, Silver and Oil please visit http://www.ewaveanalytics.com
Short Term Trend = Bearish trend being challenged
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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