Elliott Wave Stock Market Update - July 1

The market has now rallied back to Pre-Brexit levels and this has created the potential for an Inverse Head and Shoulders. So a pullback to the 2050 level more or less gives a good clear risk/reward set up in the near future. Hopefully we'll see the correction sometime next week so I can buy a good amount. I am sticking to 2017 as my "retirement" year and if my business can maintain the current momentum until December in addition to some help from my trading account or my China long positions, then I will have achieved my goal by January 2017.

Have a great weekend and Happy 4th to those in the US!

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.