Elliott Wave Stock Market Update - October 19

The market traded in the resistance area for most of the day and this managed to turn the Trend Average bullish. Prices might get past resistance tomorrow and go towards the 50 DMA if the market finds a good excuse to rally. Maybe the outcome of the debate tonight will be the catalyst but I think we should know by now what to expect. More BS from Hillary and more crazy talk from the Donald.

I went long right where I sold at 2144 and I am setting a short stop at 2138.

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 trend being challenged

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.