The market has continued to trade sideways and the count I had been following is either complete with a truncated 5th or incorrect. Prices have not been able to get past resistance and there will be pressure on prices to test the most recent low at 2417 or possibly 2407, if these support levels fail to hold then I think the 200 DMA will be given a visit.
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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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