Monday, June 30, 2014

Stock Market Update - June 30

Nothing much to add today as the market spent the day within a tight range. The count I posted is still in play but perhaps the W3 is going to extend since there's a bullish nested 1-2 pattern. The 30 min MACD is rolling over and that's normally a signal for a short term bearish wave coming, so a bullish wave has to come tomorrow or else the market will be going back to test support again. Maybe a big move will come after the World Cup is over, for now watching soccer is a lot more interesting to me than looking at waves. And speaking of which, the ideal match I mentioned weeks ago looks very possible and that is Argentina vs Brazil, which Argentina will likely win imo.

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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