The market staged a strong comeback today in one of the best days in years. But given the steep sell-off last week this shouldn't really come as a surprise. Despite the strength of the rally, the TA is not close to being tested yet so this might end up being a Christmas sucker rally when there are no more bag holders left.
For further analysis on the NASDAQ, DJI, RUT, Gold, Silver and Oil please visit http://www.ewaveanalytics.com
Short Term Trend = Bearish
Medium Term Trend = Bearish
Long Term Trend = Bearish
* 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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