Elliott Wave Stock Market Update - May 19

Sorry for the late update. I've been driving for most of the day to Northern California to meet friends and just didn't have the time. A 200 DMA test looks likely given today's lower lows and I think we should see the market start rallying fairly soon or start breaking down if a bearish pattern in place plays out. I'll elaborate more on that on the next update, it's time to go to sleep.

For further analysis on the NASDAQ, DJI, RUT, Gold, Silver and Oil please visit http://www.ewaveanalytics.com


Short Term Trend = Bearish
Medium Term Trend = Bullish

Long Term Trend = Bullish

* 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.