Friday, August 4, 2017

Elliott Wave Stock Market Update - August 4

The market has continued to trade sideways and a triangle pattern is now the most likely option. I expect a break out of the pattern next week but sometimes it can extend, so my assumption is new highs in the near future. I can't believe is August and the market has not given back any gains at all, not to mention that volatily is at a multi-decade low. Anyone who remembers the previous bull market peaks should see the obvious similarities at this point.

Have a great weekend!

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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