Monday, July 31, 2017

Elliott Wave Stock Market Update - July 31

The market had a bullish opening today but ended up closing the day slightly negative. The pattern today sets up the market for stronger selling tomorrow, so as long as prices stay under the Trend Average, we should see recent lows tested if not broken. I think the White House staffing issues is enough of an excuse to sell so we'll see if sentiment will turn tomorrow.

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

Short Term Trend = Bullish trend being challenged
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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