The market closed the day flat but this has turned the TA bearish and implies the high made last Thursday at 3021 is a top. A break of support at 2978 would confirm a deeper correction ahead. What degree of a correction it will be remains to be seen but it seems almost every time we get a bigger correction the bulls come right back.
Short Term Trend = Bearish
Medium Term Trend = Bullish
Long Term Trend = Bullish
* 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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