Prices closed the day challenging ATH and the trend continues to support a push towards the 2600 level. The market seems unstoppable for now and given the current season, we might see even more euphoria in the next few weeks with or without a consolidating correction. It's been exactly 1 year since the current rally started and the last time the market saw a 5% correction. I doubt anyone reading this blog has been constantly short during this time but this has been a painful year for bears. As I've said for years, trend is your friend.
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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