Elliott Wave Stock Market Update - October 19

The market seems to be completing the count posted, so not much to add today. It's still early to say but unless the market plunges to lower lows (which looks unlikely at this point), we should expect a strong rally to come after the coming correction is over. We are about to enter a seasonally bullish period and the absence of bearish catalysts is enough of an excuse to continue the rally.

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 = Bullish

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.