The market was able to trade above 2800 for the first time in months but we should see a correction soon as the waves look completed. My assumption is that the correction will drive prices down to test 2748 at the very least but it could go to 2600's. As long as the low made in January holds then we should see the rally continue towards a higher high and even a new ATH! I will be going long on the correction unless there is a panic feel to it.
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 = Bullish
Long Term Trend = Bearish trend being challenged
* 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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