Monday, November 17, 2014

Elliott Wave Stock Market Update - November 17

Not much to add today given the same boring pattern as last week. This despite the -10 point move in pre-market due to a surprise negative GDP number in Japan and its now official recession. I am not sure if the market plans to drop soon or it is just buying time to set up another bullish leg at this point before finally correcting. The Trend Average will be catching up to the market in the next couple of days and that normally signals a substantial move either way.

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.

No comments:

Post a Comment