Monday, March 23, 2015

Elliott Wave Stock Market Update - March 23

The market started its correction as expected and I continue to expect the Trend Average or the 2085 area to be tested. It's worth noting that a bottom around the 2085 level would form the neckline for an Head and Shoulders pattern, so we could see lower lows if the coming rally forms a right shoulder. I hope I can start taking profits on my short position in the next day or two and go back long again on my trading account.

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 whipsaw

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