Thursday, October 20, 2016

Elliott Wave Stock Market Update - October 20

Prices opened down early morning but bounced around before settling right at the Trend Average level. If the market plans to break out it should happen tomorrow, otherwise we will see either 2124 or the 2114 low tested again. I almost stopped out but decided to hold because of the zig zag early in the morning. I guess the market didn't care much about the debate last night.

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

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.

Elliott Wave Analytics

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