This market has more lives than a bunch of cats put together! lol. This thing just refuses to go down. The TA was reversed last week and the trend remains bullish despite waning bullish momentum. Based on seasonality and the fact the market has been rallying for over a year one would assume there should be a decent pullback during the summer. But as I have learned through experience and writing this blog for some many years, it's best not to bet on it! I sold my positions couple of weeks ago for a nice profit and all cash in my trading positions. I know sooner or later there will be a big pullback but this could take time.
In the meantime, I am ready to enjoy my summer and do things I didn't get a chance to do in the last year or so. Hope everyone is staying healthy and making plans for a great summer as well! Sorry, I haven't been writing as often but I am just busy with business and life. But the good thing is everything is well and I have a lot to be grateful for.
Short Term Trend = Bullish
Medium Term Trend = Bullish
For detailed wave analysis visit http://ewaveanalytics.com
* Trends are not trading signals. Trends are posted for situational awareness only and do 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 into consideration other factors