Prices made a marginally higher all-time high near the close and the Trend Average continues to support higher highs. However, waves don't have an impulsive look to them and a change of trend could occur as soon as next week. The economic picture looks great at the moment but like everything else, it is cyclical and a recession is very probable in the next year or two.
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
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