Elliott Wave Stock Market Update - November 20

The market ended bouncing right off support early morning but the bearish micro count is still in place. So if this count this correct, we need to see one strong sell off starting tomorrow. I normally don't like to add bearish labels to a bullish trend but this wave is getting ridiculously overstretched. I am still holding to my positions, so hopefully I'll get to sell hedge sometime soon.

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.