Tuesday, December 13, 2016

Elliott Wave Stock Market Update - December 13

Prices made another all time high but I think we have enough waves for a bigger correction in the next few days. The market has rallied almost 10% from the November low (and much more if you count the election night premarket crash) and could use a break to set up a Santa Rally. I went short after-hours and will be using today's high of 2177 as the stop.

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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