Tuesday, January 8, 2019

Elliott Wave Stock Market Update - January 8

Prices have continue to rise as expected and we should be able to tell if this bounce will turn into a 5 count in the next few sessions. The 50 DMA is trending down at 2639 and I assume this trend will be challenged before any substantial selling takes place.

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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