Tuesday, September 6, 2016

Elliott Wave Stock Market Update - September 6

The market was able to make a higher high today after a somewhat bearish opening and with today's close the Trend Average turns bullish again. We could see a correction in the near term to test or even close Friday's gap but now the bias favors continued upside and possibly new all time highs as soon as this or next week. I ended going back long again at the end of the day so we'll see if prices finally go over 2200. It's been a grueling summer for bears and fall will probably not be any better.

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.

Elliott Wave Analytics

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