Elliott Wave Stock Market Update - December 16

Prices pulled back slightly today and the Trend Average has basically caught up with the market. So, we could see another leg of the rally develop early next week. There is a real possibility that 2,300 will be reached by the end of the year as long as the TA remains bullish. I will go long early next week if I see a good set up and I am keeping my oil longs in hope a W3 materializes.

Have a great weekend!

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