Wednesday, March 9, 2016
Elliott Wave Stock Market Update - March 9
The market looks like it is finalizing a short term correction and we should see another bullish leg to complete the 5 wave count as soon as tomorrow. Oil rallied back to the $38 level today and we should see some of that bullishness help equities in the next couple of days.
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 = 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.