Monday, March 14, 2016
Elliott Wave Stock Market Update - March 14
The market made a slightly higher high at 2024 but it looks like it is getting ready to go higher. The current count posted has the current short term wave as the end of a 5 wave count from 1810. This count has predicted the rally accurately for the past month. However, there is a substantial possibility of a bullish nested 1-2 in the works and if we could see a strong rally without any corrections in the next few sessions. I'm sticking to the current count for now but will change it to reflect the more bullish count if there is confirmation.
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.