Wednesday, January 13, 2016

Elliott Wave Stock Market Update - January 13

The market has continued to follow the posted wave count and today we had a lower low at 1886. There are enough waves to call the entire structure complete but there is a good chance the 1867-1871 level I've been mentioning will be tested. If a bottom is found around these levels, I expect a counter rally to test the rapidly down-trending Trend Average. I will play the bounce if support gets tested.

I am going to buy the winning $2 billion lottery ticket in couple of hours. I added the following numbers to the pool.

ST - 8 13 21 34 55 5
PD - 9, 14, 21, 45, 53, +8
Eddy - 8 21 30 36 65 PB 15

The odds of winning with a single ticket is 1 in 292 million. But given the group effort, the odds of winning is now a much better 1 in 19 million. Hopefully we will all be wealthier tomorrow :)

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

Short Term Trend = Bearish
Medium Term Trend = Bearish
Long Term Trend = Bearish

* 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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