Thursday, January 19, 2017

Elliott Wave Stock Market Update - January 19

The market failed to continue yesterday's bullish momentum and was under selling pressure for most of the day. The close is under the TA and my assumption is a strong move will come fairly soon, as it almost seems like the market is waiting for the presidential inauguration. Corporate earnings have been mostly positive, so the fuel is there to push the market to new highs.

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

Short Term Trend = Bullish 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

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