Elliott Wave Stock Market Update - January 04

Prices managed to rally back up to all time high resistance and this could potentially set up an Inverse Head and Shoulders to 2315. A pullback to successfully test the Trend Average would be create a reasonable entry point to enjoy the rally. A sell off to a low below 2233 would invalidate the bullish pattern and looks unlikely at this point. Especially since we have a coming president that will make America great again!

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