The market rallied as I was expecting and the TA has turned bullish again. This could be the beginning of a multi-week rally to new ATH since the recent "correction" the market experienced gives it a solid base to rally from. So, as long as recent lows hold, expect new several new highs for as long as the TA is bullish.
I raised my stop to break-even and will just ride the wave until I see signs of a reversal.
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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