Elliott Wave Stock Market Update - May 25

The rally continued today as expected and prices have already reached the IHS pattern I was hoping to trade couple of days ago. I expect a pullback once the 5 waves are completed to test the rising Trend Average and that will be a good point for me to go long. All major trends are now bullish for the first time this year, so this could be the beginning of a rally to new all time highs.

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 = 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.