The market made a new all-time as expected and could rally towards the 2600 level if the "Cut, Cut, Cut Act" is well received (who else in the world would come up with this ridiculous name!? take a wild guess). The details are supposed to be out tomorrow so we'll see what's actually in it. I am really hoping the tax cut for pass-through entities is as good as rumored. If the bill is well received, this should give enough fuel for the market reach new highs tomorrow or Friday.
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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