Tuesday, June 23, 2015

Elliott Wave Stock Market Update - June 23

The market continued its "correction" today and it now looks like we will see new all time highs as soon as this week. Also, all trends are now back to green and oscillators have reset enough for a new rally. Still, there is the bearish topping pattern in place but it is not looking very favorable given current sentiment in the markets. I read today that it's been over 1350 days since the SP500 has experienced a 10% correction and it seems the only way this market will finally correct 10% is when we get the next recession.

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

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