Monday, January 22, 2018

Elliott Wave Stock Market Update - January 22

Prices broke out of the ascending triangle and the government shutdown resolution was used as the excuse to rally as I suspected. The only thing stopping this rally is the end of the count, the market is euphoric and seems to be pricing expected economic growth and increase in profits. Question is, how much longer can this go on as we haven't had a bear market in 9 years.

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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