| Weekly Trend: | __ | Down |
| Daily Trend: | Down | |
| Daily Momentum: | Down |
On intra day time frames the US indices have completed 5-waves down off their respective highs. Last nights broad based strength suggests a counter trend bounce has now commenced and should last a week or two. The bulls will be quick to jump back on so be very careful of short covering rallies and also don’t get too carried away with new long trades. Use profit targets and don’t get carried away with expecting a sustained move higher.
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