Monday, October 12, 2015

Elliott Wave Stock Market Update - October 12

The market consolidated today and reset some of its short term oscillators, which lines up well with the count posted. Assuming we see the wave complete in the cash market, we should see a higher high in the next couple of sessions before the start of a bigger correction. I like the 2030+ level as the top, so I will be buying back the shorts I sold last week at a big discount if I can catch them at that level. With that said, I am now just expecting a correction as opposed to a lower low or 1820 given the length of current bullish wave. I know some people want a bigger correction but bears are simply running out of time.

For further analysis on the NASDAQ, DJI, RUT, Gold, Silver and Oil please visit

Short Term Trend = Bullish
Medium Term Trend = Bearish
Long Term Trend = Bearish

* 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 per

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