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Good afternoon, Elliott Wave fans. I’m Derek Bruce with Market Minute for Friday, August 16th.

Bob Prechter’s new Elliott Wave Theorist opens with “The stock market continues to follow our script.” Read it now in the Financial Forecast Service and see the “script” Bob is referring to.

The Dow Jones Utility Average rallied to a new all-time intraday high at 833.94.

The Dow Industrials closed at 25,886.01, up 306.62 points.

The S&P 500 closed at 2,888.68, up 41.08 points.

The NASDAQ Composite closed at 7,895.99, up 129.37 points.

2,285 stocks closed up while 618 closed down. TRIN was .40.

E-mini S&P futures topped out at 2894.75 had a low of 2865, and closed at 2891.50. E-mini Nasdaq futures hit a high of 7632.50, a low of 7555.25 and closed at 7611.75.

T-bond futures were down 26 ticks at 164^29.

The US Dollar index was up .05 at 98.20.

Gold was down $7.60 at $1523.60.

Silver was down 13 cents at $17.08.

Bob Prechter’s new Elliott Wave Theorist opens with “The stock market continues to follow our script.” Read it now in the Financial Forecast Service and see the “script” Bob is referring to.

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