Tuesday, December 20, 2016

Elliott Wave Stock Market Update - December 20

The market traded slightly higher today and could technically setting itself up for a rally tomorrow if today's lows holds. However, the possibility of testing support mentioned yesterday remains probable before the real rally takes place. I went 50% long (as in half of what I normally trade) in after-hours to make sure I don't miss any upside. I am also paying attention to gold as the bottom is near.

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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