Monday, July 3, 2017

Elliott Wave Stock Market Update - July 3

Prices rallied early morning to challenge resistance at 2442 but most gains were erased by the close, which again was under the Trend Average. The one bullish factor in the market was the DJIA making a new ATH, but other than that. the bias continues to be bearish across all markets. I had originally planned to stop at 2430 but didn't get a chance because of the morning gap and given the how today's sessions turned out, I am keeping my short position but adjusting the stop to today's high.

Happy 4th of July!

For further analysis on the NASDAQ, DJI, RUT, Gold, Silver and Oil please visit

Short Term Trend = Bearish
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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