Friday, June 20, 2014

Stock Market Update - June 20

Another day, another all time high. The bulls just don't want to stop despite the World Cup, summer, lower GDP growth, Russia, Iraq, oil, etc. The question is obviously at what point will reality set in, since the market needs a pullback to stay healthy. The higher it goes without taking breaks, the harder the fall. I am still looking for a test of the Trend Average early next week and so far it is looking like it will be a successful test, so SP 2000 might be just around the corner. I am still holding to VXX which I am still planning to sell on the pullback, and USO which I am not planning to sell anytime soon.

Have a Great Weekend!

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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