Elliott Wave Stock Market Update - September 21

Prices finally moved out of range as expected and the close was substantially above the Trend Average. If the market is able to follow through on today's rally in the next few sessions then we can assume the triple bottom is in place, specially when the 50 DMA at 2168 is recaptured. The Obama administration is on track for being one of the best ever for the stock market. The question now is who is going to get the blame for the next stock market correction/crash. And not that they deserve the blame but we all know most people are going to blame the next President.

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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.