Elliott Wave Stock Market Update - December 9

The market has made another high as expected to potentially finish the count from 2187. If there are further highs on Monday or I see a topping pattern, I will be going short early next week to make few bucks on the pullback. I am assuming the rally will continue for as long as the 2187 level holds coming corrections. The market is overvalued and overbought but the madness can easily continue for quite some time.

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