Elliott Wave Stock Market Update - February 25

The market made another all time high today as expected but the move was not as strong as I had been anticipating. Technically speaking, a top at these levels satisfies the 5 wave count from 1980. But I continue to favor a rally towards 2,150 before any significant correction, and by that I mean a move below 2085. The market just needs a good excuse to complete the micro-count and then we can start talking about downside targets.

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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 whipsaw