The market has continued to sell off but was able to bounce off 2566 support, which has now held 3 times. If prices break this level, then bearish momentum will accelerate. Looking at the pattern, one could argue for a rounding top with a target of 2535 and they key for bears is for prices to keep closing below the Trend Average.
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Short Term Trend = Bearish
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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