Elliott Wave Stock Market Update - September 22

The market continued its break out today and the close turns the Trend Average bullish again while confirming the triple bottom at 2119. Assuming what we saw today was the micro-w3, we could see an all time high in the next few sessions. The NASDAQ actually made an all time high yesterday and another today so bulls are now back in charge. I am planning to sell the longs I've been holding when the count completes.

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


Short Term Trend = Bullish
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.