Tuesday, October 25, 2016

Elliott Wave Stock Market Update - October 25

The market entered into a minor correction to test the Trend Average but managed to close above it. There could be some more downside left but as long as the bullish set up is not invalidated, the next bullish wave should challenge the 2160 area in the next session or two. The market just needs a good excuse to start the next bullish leg.

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 trend being challenged
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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