Monday, June 27, 2016

Elliott Wave Stock Market Update - June 27

Selling continued today and prices easily sliced through the 2025 and the 200 DMA support levels. The market found support in the equivalent area of Thursday night's after hours low but I favor further selling until the 1950-1965 support levels gets tested. I am still on the sidelines waiting to go long near support or if I see a bottoming pattern.

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

No comments:

Post a Comment