Wednesday, July 22, 2015

Elliott Wave Stock Market Update - July 22

The market tested its Trend Average early morning and had a good chance to test its 50 DMA but didn't get very close despite the overall bearish sentiment on APPL earnings (which actually exceeded estimates!). Considering how weak this corrective wave has been, I've changed the labels to reflect a potential 5th wave to new all time highs in the next few sessions. As longs as the TA holds, the path of least resistance is up.

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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