Tuesday, July 1, 2014

Stock Market Update - July 1

The bullish wave finally came and the count has already reached its original target of 1975-1980 posted on Friday. However, since the W3 is subdividing, chances are this impulse is not done so I am expecting more highs in the next few days. How this impulse fits into the overall Intermediate count is open to debate but I assume a significant top is on the horizon, as in the next few weeks. In the meantime, it's best to just stay with the trend to either stay long and enjoy gains or avoid being short.

For further analysis on the NASDAQ, DJI, RUT, Gold, Silver and Oil please visit http://www.ewaveanalytics.com

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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