Elliott Wave Stock Market Update - January 10

Prices attempted a rally towards the all-time high and fell short a few points before heading back down to close the day exactly flat (something it has not done in 9 years). The NASDAQ however, was able to make a new ATH, so I hope all other indexes join in so I can start labeling the current count an impulse. I still think Obama will go out with an all-time high given his luck.

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