Elliott Wave Stock Market Update - November 17

Prices made an higher high today and it's enough to call the wave from 2083 over. However, prices are so close to all time highs that it would be ideal if we saw this level challenged before the next correction. The Trend Average is now at 2163 and we could see a time correction instead of a price correction in the next week or so since the TA is catching up to the market fast.

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