Tuesday, October 13, 2015

Elliott Wave Stock Market Update - October 13

The market made a higher high as expected and the count is technically complete. However, the 2030+ area was not reached and I am not sure if there is room for one more impulse before a correction to the Trend Average. Also, the intermediate trend is about to turn bullish unless there is a bearish miracle in the next few days. I was hoping to buy back the shorts I sold last week but I might end up just giving up on the positions for now if a higher high is not reached.

I am going to try to watch the debate tonight but it's not like I'm too enthusiastic about it. You have a power hungry woman that will do and say anything to get elected and a communist as their front runners, so not much can be made out of that. I used to think that Jeb Bush was going to win for sure but I think it might just be Trump at this point. Not because he has great ideas, but because he has been able to manipulate the public and the media the best. Similar to Obama in the sense that he was able to get a lot of support despite a thin record in politics and zero business and organizational experience. The race next year is going to be entertaining for sure, this whole thing reminds me of the movie Idiocracy.

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 = 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 per

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