Elliott Wave Stock Market Update - January 09

The market has continued its correction, but we could see highs challenged again in the next session or two as long as 2260 gets respected. I hope the coming wave will be clearly impulsive so we can better predict where the top will be. The ideal scenario would be a rally all the way to May and then see the top for the entire bull market there.

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