The market tested its 200 DMA with today's 2612 low in the morning. The market then managed to erase losses and close the session slightly positive. If the count posted is correct, we should see lower lows by the end of this week and see the 200 DMA broken for the first time since 2016. If selling accelerates under 2600 then probably the top for this year is already in and there will be a lot more downside to come.
Short Term Trend = Bearish
Medium Term Trend = Bullish trend being challenged
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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