Wednesday, October 14, 2015

Elliott Wave Stock Market Update - October 14

The market has continued to correct as it was expected when the count completed. However, the lack of impulse to the downside while short term oscillators are being reset are indicative of a W4. So if selling doesn't get traction in the next couple of sessions, I will re-label the count and make 2022 the top of (III). Which implies higher highs once the correction is over. If the market sells off, then we can confirm the completion of the 5 wave count from 1871 and look for an appropiate Fib retracement level.

I am still hoping to short the market if there is a higher high. But in the meantime, I think I will be buying some silver or gold on a pullback.

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

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