Wednesday, July 13, 2016

Elliott Wave Stock Market Update - July 13

Prices have refused to drop much and instead the micro-w4 is looking like a sideways correction. We could see another leg to test today's low tomorrow but it looks like another leg of the rally is about to start soon to yet another high. There are still a substantial number of bears, which implies there is still plenty of upside. Only when the skeptics join in the rally will prices drop. The market loves suckers (like the ones who sold during Brexit).

For further analysis on the NASDAQ, DJI, RUT, Gold, Silver and Oil please visit

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.

Elliott Wave Analytics

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