Tuesday, February 23, 2016
Elliott Wave Stock Market Update - February 23
The market has continued to follow the count posted and I am looking to a Trend Average test in the next few sessions. A test of support would create a good long opportunity with a short stop, so I might be going long sometime this week.
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 = 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 personally do not use nor recommend them to initiate or close positions in the market without taking into consideration other factors.