Elliott Wave Stock Market Update - October 28

The market had a strong day as expected and now it is getting closer to the resistance level I mentioned yesterday. If this wave is sub-dividing (it looks likely), we should see a gap up or continuation of the rally early tomorrow morning. Perhaps news of the budget deal will give bulls enough of an excuse to push against 2103.

I am looking forward to the debate tonight. If Jeb doesn't get traction, he will be gone and it will come down to the Doc and the Clown. They might even team up to make America great again!

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 trend being challenged 

* 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.