Monday, January 28, 2019

Elliott Wave Stock Market Update - January 28

The market lost ground today in a gap down opening that never fully recovered. However, the low was exactly at the TA and the pattern in place looks like a potential triangle that could lead to higher highs in the next few days contingent on recent lows not being breached. With that said, looking at oscillators, the market could start a multi-week pullback in the next few weeks so we might get a higher high but a strong pullback or sell-off is on the horizon.

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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