Monday, October 3, 2016

Elliott Wave Stock Market Update - October 3

The market corrected today and found support at the 2155 level. This correction sets up sets the market up for a potential bullish break out if today's low at 2154 holds any further corrections. However, if bullish momentum stalls at resistance in the 2175-2180 level again then we might see an ascending triangle form the rest of the week.

For further analysis on the NASDAQ, DJI, RUT, Gold, Silver and Oil please visit

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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