Monday, May 23, 2016

Elliott Wave Stock Market Update - May 23

The market went into a correction as expected and I am looking to see how the 2039 level holds in the next couple of sessions. Support at that range will help the market rally towards the 2100 level so hopefully I'll be able to get long on a favorable set up.

For further analysis on the NASDAQ, DJI, RUT, Gold, Silver and Oil please visit

Short Term Trend = Bearish
Medium Term Trend = Bullish
Long Term Trend = Bullish

* 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.

Elliott Wave Analytics

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