Tuesday, June 7, 2016

Elliott Wave Stock Market Update - June 7

The micro w3 of w5 seems to be evolving with today's higher high and continued upside tomorrow would confirm the count. There is the possibility the structure is finished but it would be much nicer if we had a clear count so we can predict what to expect with more clarity. The Trend Average is approaching 2100 so we will either see a correction or a new all time highs in the next week or two.

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 = 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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