Thursday, February 1, 2018

Elliott Wave Stock Market Update - February 1

The market has continued to show weakness but making a marginally lower low and looking at oscillators, we could see more selling pressure tomorrow. I was expecting a stronger but it seems like most of the counter-rally occurred in pre-market, so if the selling is strong tomorrow it will mean the W2 or B is done. I didn't get a chance to go short as I had been hoping but I did sell my China positions (first time in 7 years) and will buy them back at a better price hopefully.

For further analysis on the NASDAQ, DJI, RUT, Gold, Silver and Oil please visit

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

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