Wednesday, January 10, 2018

Elliott Wave Stock Market Update - January 10

The market had its first negative day for the year but it has yet to test the TA. So, I expect prices to test it tomorrow unless bulls are able to invalidate the bearish set up. Ideally, we would see a bigger correction to reset the current overbought conditions but it's hard to tell when people will come to their senses. For now, this is just a correction within a bullish trend.

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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