Thursday, September 24, 2015

Elliott Wave Stock Market Update - September 24

The selling continued earlier today and prices came within a few points of 1903. Looking at the wave structure, I moved the W3 or C to today's low to better reflect proportionality. So we could see another strong bearish wave if bulls are not able to clear 1950-1955 in the next sessions or two. I read Yellen just said there will be a rate increase this year so we'll see how the market takes it tomorrow.

For further analysis on the NASDAQ, DJI, RUT, Gold, Silver and Oil please visit

Short Term Trend = Bearish
Medium Term Trend = Bearish
Long Term Trend = Bearish

* 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.

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