Tuesday, April 26, 2016
Elliott Wave Stock Market Update - April 26
The market rallied at the open as I had been expecting but gains were somewhat reversed for the rest of the day. As I said yesterday, we could see a sideways move or a test of 2111 before another corrective wave so I'm assuming if there is a rally tomorrow it won't last for too long. With APPL selling off after hours, there's enough of an excuse to bring down the market to 2077.
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.