The market had a strong rally today that recovered all of yesterday's losses and turned the Trend Average bullish. This change in trend invalidates the 5 count I had been posting and opens the doors for further upside. Still, this rally remains part of a counter-rally so another sell-off is likely once the short-term enthusiasm is over.
Have a great weekend!
For further analysis on the NASDAQ, DJI, RUT, Gold, Silver and Oil please visit http://www.ewaveanalytics.com
Short Term Trend = Bullish
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
No comments:
Post a Comment