Wednesday, July 19, 2017

Elliott Wave Stock Market Update - July 19

Prices reached a new all-time high as expected but now the structure from 2407 has enough waves to be considered complete. So we could see a stronger pullback in the next session or two to test the Trend Average, which is current at 2443. I ended closing my long positions and will buy them back at the test or I might short if I see a topping pattern (there is none yet).

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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