Wednesday, March 8, 2017

Elliott Wave Stock Market Update - March 8

The Trend Average has turned bearish for the first time this year after prices continued to struggle in today's session. The low is technically testing the 2358 level I have been mentioning and if support keeps holding, then we will see bulls regain control again fairly soon. However, if support is lost, then we should see a test of the rising 50 DMA currently at 2306. I continue to hold my position but ready to close if support won't break.

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

No comments:

Post a Comment