Elliott Wave Stock Market Update - September 2

Prices rallied substantially today early morning and managed to hold on to most of the gains by the end of the day. If the rally continues next week to a higher high then we will have a new 5 micro-count and perhaps the first leg of the 5th wave we have been anticipating for weeks. I am planning to go back long if the TA turns bullish again. Just need to find a good entry point.

Have a great long weekend! Can't believe summer is coming to an end already.

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.