Wednesday, June 11, 2014

Stock Market Update - June 11

The market made another low to continue its correction from the 1955 peak, but I am getting the feeling the market is going to attempt another rally to another all time high before making a Fib correction. Maybe traders want to push it as high as 2000 before taking a summer break? I've always called for a Int Long Term W3 but I never imagined the market could go this high without much of a break since the rally started in Jan 2013. I covered my shorts to position trade, so hopefully we'll get a more predictable pattern like an H&S in the next few sessions.

For further analysis on the NASDAQ, DJI, RUT, Gold, Silver and Oil please visit

Short Term Trend = Bullish
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 into consideration other factors.

Elliott Wave Analytics

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