Tuesday, June 13, 2017

Elliott Wave Stock Market Update - June 13

The market continued to bounce today as expected but ended the day right at resistance. We could see  more upside but I don't think the ATH will be taken out, we will see. I continue to hold to the short position but will prepare to exit if I am wrong on the market topping around these levels. I normally never short a bullish trend but I have to short any potential topping patterns, considering there is a good chance of a big pullback.

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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