Monday, April 24, 2017

Elliott Wave Stock Market Update - April 23

The market rallied past resistance today and the trend has turned positive again. The outcome of the French election is the excuse so not sure how sustainable the rally is. But the bottoming pattern has been correct and now that resistance has been cleared, I am looking for a 5 wave pattern to confirm the market is in for another bullish cycle. If 2361 holds the coming pullback, then it's a sign prices will be headed towards 2400.

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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