Monday, May 8, 2017

Elliott Wave Stock Market Update - May 8

The market finally reached a new all-time high as expected after bouncing around in the same range for over a week. But the count is complete and ready for a much bigger correction. Obviously, we could see a break-out to substantially higher highs before a bigger pullback but I personally prefer to be cautious around this time of year.

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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