Wednesday, January 11, 2017

Elliott Wave Stock Market Update - January 11

Prices tested the 2260 uptrend support today after Trump started talking about how pharmaceuticals companies are screwing the American consumer (which I strongly  agree), but support held and prices bounced back and closed the day on a positive note. And, if there aren't any surprises tomorrow, I expect a new all-time high in the next session or two.

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

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

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