The market didn't do much today and still finds itself in a position to rally. However, it's hard to tell how the markets will react if another hurricane hits the US mainland hard as it did in Houston. Maybe prices will follow the count as if nothing happened, just like with the N Korean thermo nuclear test. But if sellers are nervous, I think there will be enough excuses to start selling. I hope hurricane Irma doesn't do much damage but then there is another one already coming (Jose). Maybe this is nature's way of sending a subtle message to climate change deniers that maybe it's not a "Chinese Hoax". Maybe Trump will get the message too but I am not too hopeful. How do you convince some people of climate change when they believe the earth was created 6000 years ago (40% of the US population).
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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