The counter-rallied has continued and is nearing a test of the 200 DMA. As I said yesterday, the main challenge for bulls is recapturing the 2765. A failure to clear this trend pivot will send the market into another sell-off.
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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