Friday, August 11, 2017

Elliott Wave Stock Market Update - August 11

The market ended the day basically flat after trying to counter-rally earlier in the morning. This goes well with the posted count and another bearish wave to test the 2407 level would be ideal to finalize the count. Just a little bit more talk from Trump or Kim Jun Un and the market will have enough of an excuse. Technically speaking, there are plenty of excuses to sell since these two are not stopping anytime soon. Seems like Kim Jun Un has met his match! I will be going long equities next week if I see a set up and possibly sell gold to lock in gains as prices are pushing $1300.

Have a great weekend!

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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