Tuesday, December 5, 2017

Elliott Wave Stock Market Update - December 5

Prices continued to drop today but levels remain comfortably above the Trend Average, so while the pattern looks bearish, the uptrend remains intact. If prices find a bottom and start rallying strongly in the next week or two, we should see a wave structure that won't top until the end of the year or early 2018. Right now, the only excuse I see the market could use for a sell-off is some Trump related event. Maybe, Trump will be forced to show his tax returns by Muller! for someone who can't stop talking and tweeting, isn't it amazing he has gotten away with not showing his financials at all?

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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