Wednesday, March 7, 2018

Elliott Wave Stock Market Update - March 7

The market attempted to sell off earlier today but it looks like the bulls are showing some unexpected resiliency. I am actually surprised the support level at 2700 held so well and the close was bullish enough to turn the Trend Average positive again (but barely). So while the sentiment seems to be bearish, the bulls are not going without a fight. The coming tariff announcement will be the next excuse for a substantial move.

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

Short Term Trend = Bullish
Medium Term Trend = Bullish trend being challenged
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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