Monday, March 7, 2016
Elliott Wave Stock Market Update - March 7
The market consolidated some of last week's gains in what seems like W4. Another bullish wave after the correction would end up challenging the 200 DMA at the 2022 level and give us a better idea if rally from the 1810 low is a counter-rally or the beginning of a multi-month bullish run to new all time highs. Oil continues to climb towards $40 and provides a good excuse for the rally to continue.
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 trend being challenged
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 t