Tuesday, October 17, 2017

Elliott Wave Stock Market Update - October 17

The market made another new high today, the sixth consecutive marginally higher ATH in as many days. What is interesting is that all the higher highs have come in a 4 point range. The rising wedge is still in play and only a convincing break out would invalidate this topping pattern. If the market does intend to breakout, it should be tomorrow.

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

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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