Thursday, May 21, 2015

Elliott Wave Stock Market Update - May 21

The market almost confirmed the end of the 5th wave with its early morning low but it managed to put in a higher low instead. So new all time highs can still be expected but given the declining momentum, I favor an Ending Diagonal to finish off the 5th. Also, we have to keep in mind this 5th wave could be just the end of the wave that started at 2096 and not the entire structure from 2067 and in that case we would see just a mild correction before another all time high.

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.

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