The market bounce today was stronger than anticipated and prices closed at a new ATH yet again. The topping pattern remains a possibility but only if prices come down early next week to test the low made yesterday. If prices only manage a Fib retrace, then this will set the market for a continued rally for the next few weeks.
Have a great weekend!
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
No comments:
Post a Comment