Tuesday, August 29, 2017

Elliott Wave Stock Market Update - August 28

The market has continued to trade sideways and the count I had been following is either complete with a truncated 5th or incorrect. Prices have not been able to get past resistance and there will be pressure on prices to test the most recent low at 2417 or possibly 2407, if these support levels fail to hold then I think the 200 DMA will be given a visit.

For further analysis on the NASDAQ, DJI, RUT, Gold, Silver and Oil please visit http://www.ewaveanalytics.com

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

No comments:

Post a Comment