Elliott Wave Stock Market Update - May 27

The 5th wave on the micro-count materialized today and technically speaking the wave structure from the 2025 low has enough waves to be considered complete. However, I think there's room for a push towards the 2111 high and if W5 would equal W1 then the target is 2120, so maybe bulls will come back in a really good mood after the long weekend and push prices substantially higher before a correction to the Trend Average. I didn't sell any of my longs today but I'll sell them towards a rally towards resistance and perhaps use those profits to buy VXX options for the correction.

Have a great and safe weekend!

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.