Thursday, April 13, 2017

Elliott Wave Stock Market Update - April 13

The market attempted to bounce earlier in the morning but bears took control after Trump dropped the mega-bomb in Afghanistan. The news was just basically an excuse to test the 2322 level mentioned a few days ago, so now we have to see of this level will hold or give way for a test of the next support level at 2300. I lucked out and managed to actually profit by selling my longs earlier in the morning and will be buying as close to 2322 tomorrow if I see a possibility for a bottom.

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

Short Term Trend = Bearish
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

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