Elliott Wave Stock Market Update - August 30

The market went into a minor correction as expected and so far the bottom has been above 2168. So there is a chance for a stronger bullish wave starting in the next session or two if today's low at 2170 does not get breached. I didn't get a chance to lock profits in the morning so I guess I will just ride the whole thing to new ATH.

For further analysis on the NASDAQ, DJI, RUT, Gold, Silver and Oil please visit http://www.ewaveanalytics.com


Short Term Trend = Bearish trend being challenged
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.