Elliott Wave Stock Market Update - August 14

I'm going to make this one short since I had a busy day enjoying the summer here in So Cal. Basically, the market is making it harder to label the waves in the past couple of weeks by challenging the bearish trend. It'd be a lot easier if there was a strong sell off next week in all indexes but I get the feeling it's not going to be that easy. I guess after rallying almost 4 years, it's not easy for bulls to give up hope. And who knows, they might be able to pull a miracle but I wouldn't bet on it.

Have a great weekend!

For further analysis on the NASDAQ, DJI, RUT, Gold, Silver and Oil please visit http://www.ewaveanalytics.com


Short Term Trend = Bearish trend being challenged
Medium Term Trend = Bearish

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. While mechanically trading the posted trends is feasible, keep in mind that these are lagging indicators and as such are prone to whipsaws and I personally do not use nor recommend them to initiate or close positions in the market without taking into consideration other factors.