Thursday, March 9, 2017

Elliott Wave Stock Market Update - March 9

Prices tested support as I had been expecting since last week and there was a counter-rally attempt towards the end of the day. Obviously, it's too early early to tell if a bottom is finally in but I see a potential bottom at 2354.54 if another bearish wave fails to make a lower low. I closed my shorts from last week for a few cents of profit and I went long at 2161 with a stop at today's low.

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

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