The market traded sideways today and ended the day basically flat and this lines up well with a potential strong bearish wave coming . A break of 2764 will send prices much lower. Given how much the market has rallied in the last 10 weeks, a stronger correction is not a surprise. What remains in doubt is whether this recent rally was just a bounce or a new leg to a new ATH after a fast correction in December.
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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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