Elliott Wave Stock Market Update - November 12

Today is the first "negative" day after 5 consecutive all time high days, which we have never seen since the market started making new early ATH last year. The wave count looks complete and at least very close to completing and I see the potential of a rounded top as long as 2041 holds. So maybe we'll get more excitement in the next few days. Maybe the Russian invasion of Ukraine will do it or some renewed bearish interpretation (in itself, ridiculous) of low oil prices?

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.