Elliott Wave Stock Market Update - August 25

My suspicion on Friday was correct and today we got the 5th wave to complete the 3rd wave from the 1904 bottom. Looking at the micro count, it still looks like there is another minor push up, so the 2004 level I mentioned on Friday might get hit before a correction to the 1979-1984 area. Now that the index is exactly 3X 666 (March 2009 low), it makes me wonder how many people using Elliott Wave in 2009 were able to enjoy this 200% return. To be clear, I completely missed the run up initially because I was stuck with the old theory. But what I learned in the past few years is invaluable and will hopefully help me achieve my retirement goal in the not too distant future.. 2017 is just around the corner, which is my target retirement year.

For further analysis on the NASDAQ, DJI, RUT, Gold, Silver and Oil please visit http://www.ewaveanalytics.com


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.