Wednesday, July 2, 2014

Going for 1987?

The wave today fits the count perfectly, so we could see a rally tomorrow (because of the jobs reports?) to the mid 1980's level. The number I like in particular is 1987, so the market hits that, I'll buy back the volatility I sold the other day or even go short in expectation of a bearish wave to the Trend Average. I read this bull market is now the 5th longest ever at just over 1,000 days, so a bearish turn around could come soon. At the same time, the longest bull market ever was in the 90's and lasted about 2,500 days. These are times when the trend is your friend :) I think I have a better chance of calling the winner for the World Cup (I am predicting Argentina) than pinning down the long term top for this market.

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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