Elliott Wave Stock Market Update - September 16

The market went into a minor correction and yesterday's lows have a good chance of holding if we see a bullish Monday. The real test again for the bullish case will be recapture the 50 DMA and the TA next week. Failure to turn the short term bullish bias will end up in more selling.

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

Have a great weekend!



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.