Wednesday, January 16, 2019

Elliott Wave Stock Market Update - January 16

The market has made a higher high and technically tested the 50 DMA as I had been anticipating. Now, we should find out if this rally plans to go much higher or selling will resume in the next few sessions. This will depend on prices trading above 2628. If the market fails to rally past this level then we could see a strong sell-off ahead.

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

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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