Prices broke out of the consolidation pattern as expected and I think they are headed towards a challenge to ATH. The move today was strong and I might go long on a pullback using 2697 as the stop. I also went long on oil today since I think it is headed towards the this year's high at $66. Looks like things might get out of control again until the next top.
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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