Wednesday, December 28, 2016

Elliott Wave Stock Market Update - December 28

The market failed to make a higher high as I was hoping and the micro-count posted yesterday was invalidated. Prices ended up closing right above the 2248 support level and this area holds further selling, then we could see another attempt at a breakout before the year is over. But if support is lost, then a bigger pullback will be likely in January. I am holding my positions but stopping if support is broken.

For further analysis on the NASDAQ, DJI, RUT, Gold, Silver and Oil please visit

Short Term Trend = Bullish trend being challenged
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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