Tuesday, October 24, 2017

Elliott Wave Stock Market Update - October 24

The market finally "took a break" today but still managed to close the day slightly positive. The assumption if prices will continue higher as long as the TA supports it or until we see a possible topping pattern in place. So far the market looks unstoppable but things can change at any moment. The dissenting Republican senators are a cause for worry for tax reform as the slight majority the GOP enjoys is being negated by Trump's constant bickery with them. If this fails to pass, it will be all his fault for making everything so personal and behaving like a 3 year old. I knew he was going to be bad given his ego but this has reached ridiculous levels.

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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