Volatility finally showed up today, after being on vacation for few weeks. The initial sell-off could be an "A" or a "W1", so we'll have to see where the bounce stops and the subsequent drop. If prices fail to go above the high made yesterday, then we will see another strong sell-off to test today's low and possibly much lower if the market is on a 5 count.
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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