Tuesday, January 15, 2019

Elliott Wave Stock Market Update - January 15

The market broke resistance and looks well positioned to challenged the 50DMA in the next few days if the 2570 low doesn't get breached on a pullback. Once the 50DMA is tested then we might see the resumption of the sell-off if technical traders decide to dump their shares at that level.

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

Short Term Trend = Bullish
Medium Term Trend = Bearish
Long Term Trend = Bearish

* 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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