Thursday, April 6, 2017

Elliott Wave Stock Market Update - April 6

Prices counter-rallied somewhat today but not enough to close over the TA. Technically, the sell off from yesterday could be an ABC with a new 5 count starting today. But if there is a lower low tomorrow, then we will have 5 waves down from 2378, which could lead to more selling ahead. But with the US-China summit taking place, I think the outcome should lead to a rally as I am sure there will be "good news" for both sides.

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

Short Term Trend = Bullish trend being challenged
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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