Monday, October 30, 2017

Elliott Wave Stock Market Update - October 30

The market went into a correction today, which is not all that unexpected given how overbought the market was at the end of last week. And I presume once gains are consolidated, the rally will continue towards higher highs. The unveiling of the details for tax reform on Wednesday should give stocks a reason to resume the rally. As a business owner, I hope tax cuts for pass-through entities will be as good as I have been reading. That would save me a lot of money in the next few years.

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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