The market has rallied past 50 DMA resistance and now looks headed towards the 2740 level. The market continues to be in a bearish pattern despite the ongoing rally when looking at longer term time frames and the next intermediary bearish correction should give us a clue of the overall count.
Have a great weekend!
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Short Term Trend = Bullish
Medium Term Trend = Bearish trend being challenged
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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