Elliott Wave Stock Market Update - December 30

The market decided to end the year in a negative note and the break of support opens the door for a bigger correction next week. I was hoping to profit from my last trade of the year but I had to stop out unfortunately. Still, I think new all time highs should come in 2017 before the beginning of a real bear market that could last a while. Trump was somehow credited for the rally since Nov 8th and he will be blamed for the coming bear market for sure. The US is in uncharted territory with Trump being president. And while I see the benefits of having an outsider shake up Washington politics, I am somewhat concerned with some of his rhetoric as nobody knows what he will actually do.

Have a safe and Happy New Year!

For further analysis on the NASDAQ, DJI, RUT, Gold, Silver and Oil please visit http://www.ewaveanalytics.com


Short Term Trend = Bearish
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