Tuesday, May 19, 2015

Elliott Wave Stock Market Update - May 19

The market made a higher high today but reversed all its gain by the end of the day. For now, I expect more downside before the resumption of the rally to complete the count posted. Maybe the market manages to surprise everyone this year by skipping corrections and going straight to 2300? as it is, there has only been one bull market that is more expensive than the current one measured in market cap to GDP. The only other time stocks had a higher market cap to GDP was in the dot-com era 15 years ago. And it is just a question of time before the next bear market begins, when that will happen is obviously anyone's guess. But my assumption is one is coming within the next 2 years and hopefully we'll see good opportunities like in 2001 or 2009. I hope I will have reached my retirement goal by then so I can double it in the next bull run.

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.

No comments:

Post a Comment