Tuesday, January 24, 2017

Elliott Wave Stock Market Update - January 24

The market rallied to new all time highs as I was expecting and we could finally see a strong break-out of range in the next few sessions. I'm assuming there will be a correction for today's wave but it might end  up being a shallow one. I sold when prices hit a new ATH and just bought back in after-market to improve my cost basis.

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

Short Term Trend = Bearish 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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