Elliott Wave Stock Market Update - December 12

The market finally took a break today and corrected a few points. It would be great if prices came down to 2214 so I can go long, but we might just see a shallow correction despite the big run up since November 8th. I think the current reasoning for the market going up is the reflation expectation with the Trump administration. Whether or not it happens and translates into increased profits is another story. But as the market reaches over-priced levels, it is best to start getting ready for a bear market in 2017 or 2018 if Trump gets lucky.

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