Thursday, August 3, 2017

Elliott Wave Stock Market Update - August 3

The market didn't do much today other than close below the Trend Average, in itself, a bearish signal. However, given what I mentioned yesterday. as long as support continues to hold then there is a good chance the market will break to the upside. I was tempted to go long later in the day today but with the week coming to a close and the uncertainty about Trump (Russia investigation, China trade, etc), I figured is best to sit this one out.

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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