Monday, October 31, 2016

Elliott Wave Stock Market Update - October 31

The market closed marginally lower today after counter-rallying earlier in the morning. Failure to make a higher high (2133) will lead to continued selling in the next few sessions. I am assuming the the short term bias will continue to be bearish until the elections are over given the ongoing uncertainty. My guess is the markets will sell off hard if Trump wins, rally to new highs if Hillary wins.

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

Short Term Trend = Bearish
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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