Prices made another marginally new ATH today and the 5 count could technically be complete with this new high. It would look nicer with a stronger impulse for the 5th wave but given the fact North Korea is at it again, the market could use this as an excuse to pullback to the Trend Average if not below. But as we have seen in the past few months, unless Trump or Kim J Um truly escalate, the market will keep rallying until the count is finished. Maybe then one of these two will do something truly crazy or we will be hit by a recession. I hope it is the latter since I think we are all tired of war at this point.
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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