Monday, November 21, 2016

Elliott Wave Stock Market Update - November 21

I thought the market was ready for a break but I was wrong, prices decided to make an new all time high. This should not come as a surprise as it was a question of when and not if. We could see prices stage a break out this week to 2200+ but I still think it would be better for the Trend Average to be tested first before the next bullish leg. And so much for a Trump crash, the market wants to go up and the only thing stopping this bull market will be a recession.

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

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