Tuesday, November 22, 2016

Elliott Wave Stock Market Update - November 22

Another day, another all time high. The Trump rally continues and for the first time we have a close over 2,200. It seems like it wasn't all that long ago when the market was at 1,000. I did a wave calculation for the top of the market a few months ago when 2135 broke and if I remember correctly it was about 2,400 or an 8% upside from current levels. So maybe this market will continue to rally well into next year and finally find a top sometime in 2017. I just hope I have time to save some more cash to prepare for the next bear market. I missed the bottom in 2009 but I am definitely not missing it on the next one.

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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