Monday, December 21, 2015

Elliott Wave Stock Market Update - December 21

The market staged a counter-rally today after testing last week's low in the morning. If the rally continues tomorrow then there's a good chance the Trend Average is going to be tested. What happens after the TA is tested in anyone's guess as the trend bias is bearish but this season is normally bullish. Whatever the case, I will be adding Russia to my portfolio this or next week. It's hard to ignore the dividends and how undervalued their companies are at the moment.

For further analysis on the NASDAQ, DJI, RUT, Gold, Silver and Oil please visit

Short Term Trend = Bearish
Medium Term Trend = Bearish trend being challenged
Long Term Trend = Bearish trend being challenged 

* 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 into consideration other factors.

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