Thursday, February 16, 2017

Elliott Wave Stock Market Update - February 16

The market finally took a break today by pulling back and consolidating some of its gains. However, given the corrective look of today's wave, I see the possibility of even higher highs before a bigger consolidation can take place. I ended up covering my shorts at 2343 and will re-short at a higher high or go long on a test of 2322, whichever comes first.

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

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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