Elliott Wave Stock Market Update - November 10

Another low volatility day and another marginally higher all time high. But the market has a rising wedge pattern and the correction should come in the next few days. I just wonder who in the world is buying right now given the 11% non-stop rally. I am still holding to the hedge, so hopefully the correction will make it down to a profitable level.

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.