Thursday, April 14, 2016
Elliott Wave Stock Market Update - April 14
A higher high was made today as expected and it looks like there will be more to come after a micro-W4 correction. If we go by wave length, the ideal bottom would be around 2075-2077 before a W5 to challenge resistance at 2104. It's been almost a year since the market topped at 2134 and perhaps we will finally see new highs in the next few weeks. Personally, I am waiting for China's SSEC to start rallying hard again so I can get to my retirement on time :)
For an more detailed analysis of the current wave 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.