Wednesday, December 2, 2015

Elliott Wave Stock Market Update - December 1

The market has continued to follow the count as I had been expecting and now we have a higher high in the 2100 level. Technically speaking the structure from 2019 can be counted as complete as all it needed was a 5th wave. But I get the feeling this wave will end up pushing towards the previous high of 2016, so we'll see if there is enough momentum to get there. I continue to hold my longs but I am now raising my stop to break even (on my latest purchase) at 2089.

I have a few more days in China before I fly back on the weekend. Based on my observations here, a lot of the talk in the west on the Chinese economy is just pure overblown bearish drama. Not all that different from the bearish talk in the US actually.

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 = Bearish trend being challenged 

* 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 into consideration other factors.

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