Thursday, July 20, 2017

Elliott Wave Stock Market Update - July 20

The market made a another all-time high today and the W5 now is almost 1=1 to W1, so a conclusion to the wave structure would be ideal at this point. However, I see a Ascending Triangle forming and prices would reach upper 2485+ before going into a bigger correction. I never imagined the market rallying in the summer given the advance after the elections. But it is what it is, the uptrend continues.

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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