As expected, prices broke out of it's W4 pattern and closed the week at a new ATH. And as crazy as it sounds, there is enough bullish momentum to keep going for weeks if not months. So, enjoy the ride if you can but when it's over, selling will be swift. The current rally is global in nature so I will also get out of my China positions if I am right about this super-bullish period so I can buy them cheaper later. I haven't sold a single share in the China portfolio in almost 7-8 years but if I can get another 10-20% in a global run, it will be time to start going defensive .
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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