Prices traded sideways today in what seems like a micro W4 so we might see a higher high early next week. The close technically puts the TA in neutral but given the pattern, I will continue to assume selling will resume next week. However, if the TA is recaptured next week then it will signal the recent high at 2717 will be challenged soon. Whatever the case, May is almost here and earnings will be done by then so there will be a few months where the market will be vulnerable to selling pressure.
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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