Wednesday, March 16, 2016
Elliott Wave Stock Market Update - March 16
A new high was made again as expected but I think there is still more upside ahead. Like I said yesterday, the posted count could be correct and currently completing or this is just about to shoot way up. The most bullish count has the current move as part of a nested 1-2, with W2 at 1890 so this count would easily take the market to new highs in a fairly short time.
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 trend being challenged
* 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.