Wednesday, May 31, 2017

Elliott Wave Stock Market Update - May 31

Prices made a lower low today but the count remains the same and another high is expected before a bigger correction. If for some reason a new high doesn't come tomorrow, then the wave could truncate and go into selling mode early next week. I am tempted to add some shorts if we see a high tomorrow but we'll see. In the meantime, I sold the silver position and keeping gold only.

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

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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