Elliott Wave Stock Market Update - April 27

The market made another all time high today as expected but the wave fell couple of points short of the ascending triangle target. The wave count is not exactly the best looking but it is still technically viable, so my assumption is we are seeing a mild correction before new all time highs. Also, the bullish momentum in tech should help overall sentiment. Perhaps, we will see a high in May and then finally see a proper correction (as in 10%).

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.