Tuesday, April 4, 2017

Elliott Wave Stock Market Update - April 4

The market closed marginally higher today after a minor correction early in the morning. The close continues to be above the TA and there is a small ascending triangle as well, so the pattern favors upside tomorrow that should challenge and probably exceed the recent high at 2370. Hard to say what will be the catalyst for the next market rally but maybe the US-China summit might be used as an excuse? Trump did a lot of China bashing during his campaign but has changed his tone lately about the subject, so maybe they will come out with something that looks "constructive" to everyone which is ultimately bullish for the markets.

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

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