Thursday, March 23, 2017

Elliott Wave Stock Market Update - March 23

The market attempted to rally early in the morning but gains were reversed by the end of the day. I am still expecting a lower low to finalize the 5 count posted and then we should see a rally to test the Trend Average. If prices are able to go above the TA and turnt he short term trend bullish, then we should see new highs in April. But if TA serves as resistance, then there will be more downside ahead to consolidate gains made in the last 5 months.

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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