The market continued its correction today and remain in position to make another push higher soon as long as 2908 doesn't get breached in a continued correction. I was looking at a possible Elliott Wave count that calls for a very bullish period in the next few weeks before we actually firm top. I have been accumulating cash and not deploying any of it lately but might risk some for a few weeks/months. I don't mind missing a rally but I definitely don't want to miss the bear market.
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
No comments:
Post a Comment