Wednesday, May 27, 2015

Elliott Wave Stock Market Update - May 27

The market re-bounded to test the Trend Average today and we should find out soon if a summer correction has started. To confirm the bearish scenario we need to see a strong sell off wave  to make a lower low, ideally below 2068. Alternatively, if bulls manage to continue the rally tomorrow to challenge all time highs, we could see another IHS set up that targets higher highs.

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.

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