Elliott Wave Stock Market Update - September 12

The market staged a fairly strong bounce today as expected but the real challenge will be re-capturing the Trend Average currently at 2170. So until the short term trend is back to bullish again, my assumption is the correction  is not over. I am holding on to the long position and will sell at the test of the TA.

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.