Monday, August 7, 2017

Elliott Wave Stock Market Update - August 7

The market seems to have started to break out of its triangle pattern and we should get confirmation in the next session or two with follow through buying and higher highs. There is a high possibility of new ATH this week and only a move below 2473 would invalidate the pattern. I didn't get a chance to go long today because I was busy moving stuff but if the market opens down and above support, I will go long and use support as a stop.

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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