The market didn't do much today despite the tax cuts being signed into law. The event was already built into the rally so now the market will need another excuse to keep going up. I am assuming the rally will continue until the earnings season in January and we will see then if there are signs of a bear market developing.
Have a great weekend and Merry Christmas!
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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