The market made another all-time high today and looks like the structure still has room to go before a bigger pullback. Considering we should get news on the tax cuts this week, this could serve as the excuse to finish up the 5 count. Whatever the case, I hope there are enough vote in the Senate to pass the bill. Without a doubt, this tax cut is for the wealthy and for business people. It will be interesting how they will spin it and sell it to the public as a cut for the "middle class".
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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