Elliott Wave Stock Market Update - June 22

The market challenged the 2100 high today but fell short of making a new high. One could interpret the micro-count as a flat, a truncated 5th, or a bearish 1-2 set up so reading waves doesn't do any good as far as trading set ups goes. However, we should get a clearer picture tomorrow on what the market is going to do next. What happens to the UK in regards to the EU will be the excuse to move prices either way.

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.