Elliott Wave Stock Market Update - July 14

The rally continued today to new all time highs in a W3 that doesn't seem to like to retrace much. I ended up buying back my long position yesterday in after hours and will deploy the rest of my trading cash on a W4 pullback or in a combination of oil/gold/silver. I mentioned the Inverse Head and Shoulder's target of 2200 more than a week ago and it seems like the market wants to get there in a hurry.

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.