Prices closed down again for the 4th consecutive time this week turning the Trend Average bearish. The choppy nature of the correction favors consolidation and not a bearish impulse. Also, one could argue for a bottom pattern with 2864 as the bottom of the correction but given where the TA is pointing, I will have to assume lower prices are coming until proven otherwise. Maybe Trump will say something crazy this weekend that can be used by bears or maybe he will behave like a normal person and cause people to panic! lol.
Have a great weekend!
Short Term Trend = Bearish
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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