Today's follow up rally invalidated the count I posted yesterday so we are back to square one. The rally is still considered a counter-rally despite the close being barely above the TA but if we see continued strength then the market could try to change its current downtrend. I continue to assume prices will make a lower low below the 200 DMA sooner than later.
Short Term Trend = Bearish trend being challenged
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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