Friday, May 5, 2017

Elliott Wave Stock Market Update - May 5

Prices closed the week testing its all-time high at 2399 and absent of any surprise over the weekend, we should see a new ATH next week. Technically, the high today is enough to complete the count posted but we will see how much more upside there is next week. Ideally, a strong bullish move in the next few weeks to a substantially higher high would be perfect for a top before the summer. I can't believe we are already approaching summer!

Have a great weekend!

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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