Tuesday, February 6, 2018

Elliott Wave Stock Market Update - February 6

Prices rebounded today after selling off substantially overnight in what I assume is a W4. So, if the count is right, we should see another leg to a lower low before a counter-rally to test the Trend Average. If prices are able to rally back up to the TA, then this will invalidate the 5 count and make this a zig zag correction within an uptrend.

For further analysis on the NASDAQ, DJI, RUT, Gold, Silver and Oil please visit http://www.ewaveanalytics.com

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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