Friday, February 1, 2019

Elliott Wave Stock Market Update - February 1

The market has continued to make higher highs and close the week up +1.57% for the 5th positive week in a row.  There is also a bullish cross on the daily MACD which normally favors substantially higher highs under "all bullish" conditions. However, prices remain under 2742 and as long as prices remain below this level the rally remains a counter-rally with the possibility of another sell-off.

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

Short Term Trend = Bullish
Medium Term Trend = Bearish trend being challenged
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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