Tuesday, December 6, 2016

Elliott Wave Stock Market Update - December 6

The market rallied to a higher high and and closed the day challenging ATH as expected on yesterday's post. Now that they are 5 waves in, we could see an IHS set up where prices end up testing the 2,200 level and start the next leg of the rally from there. I will be going long around the TA with a tight stop in hopes I can get on the Trump rally.

For further analysis on the NASDAQ, DJI, RUT, Gold, Silver and Oil please visit http://www.ewaveanalytics.com

Short Term Trend = Bullish trend being challenged
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

No comments:

Post a Comment