Elliott Wave Stock Market Update - September 15

The market managed to put in a fairly recent rally today and we should find out if the selling is over on the coming correction. If the 2119.90 low is respected then we will see a rally to at least the 50 DMA or the Trend Average in the next few sessions. In fact, adding longs on the retrace and using support as stop looks tempting.

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.