Tuesday, February 21, 2017

Elliott Wave Stock Market Update - February 21

The market continue to rally as expected and the 2370 target I mentioned on Friday looks feasible tomorrow. I was planning to buy back my shorts after hours but I was on the phone and forgot. So I hope we will see a higher high materialize tomorrow so I can get back in. The market is very overbought and a correction to the TA would be good to reset short-term oscillators. I think the market is lining up well for a "Sell in May" this year.

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

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