Tuesday, May 30, 2017

Elliott Wave Stock Market Update - May 30

The market didn't do much today other than buy time, there should be another leg to challenge all-time highs before we see a stronger correction. Now that summer is here, I really will be surprised if we don't see a substantial pullback in the next few months. It's been now 8 years since the rally started, so even a bear market that lasted 2-4 years would not be out of the question after the market finally tops.

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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