Elliott Wave Stock Market Update - May 14

The market closed at an all time high as bulls are gathering momentum to break out of range. If the current wave is indeed a W3, we should see substantially higher highs in the next week or two. With that said, a top is coming up soon and it's best to be cautious. In the last 5 years, we've seen a negative May every year with the exception of 2014. My longs are doing well but I decided to buy back VXX protection just in case.  I want to enjoy the moment but want to avoid surprises :)

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.