Friday, June 27, 2014

Stock Market Update - June 27

The market tested the Trend Average again today and bounced back at the end of the day to end in positive territory. Considering today's price action, I am labeling the bearish wave from yesterday a C. And if the bounce wave from 1944 is a W1 of a bullish 5 count, then I have 1975-80 as a target for this new bullish wave. So it looks likely that we will see another all time high next week if the mood stays the same. Looks like SP2000 is around the corner..

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 into consideration other factors.

Elliott Wave Analytics

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