I updated the blog yesterday but apparently I didn't hit the "publish" button, so there was a day skipped this week. But basically, as the price action shows today, the bias continues to be bearish and should 2405 break, we could see selling accelerate in the next few sessions. The next level of support if support breaks is 2350. I am keeping my shorts intact but moving my stop to 2423.
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
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