Wednesday, January 17, 2018

Elliott Wave Stock Market Update - January 17

The market reached the 2800 level as expected and I am now tempted to label the IV wave to a II. If prices keep going up with strong momentum, it means the rally has ways to go before a true correction takes place. Too bad prices never retraced enough for me to add longs but it's all good, my China shares are going up a lot too so can't complain. I am 4% away from my retirement goal on my long only portfolio, this despite the fact prices in the Chinese index are nowhere near the high of 2015.

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

No comments:

Post a Comment