The market closed flat today after making a higher high earlier in the day. A correction to the 2787 level seems appropriate at this point to consolidate recent gains. I saw headlines in the morning about China walking back some trade concessions, if that is true, then that would be a perfect excuse for proper correction this or next week. For now, nothing seems to be stopping this market.
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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