Wednesday, February 6, 2019

Elliott Wave Stock Market Update - February 6

Prices have been testing the 2742 resistance level I have been mentioning but it has yet to surpass it. We might see a rally attempt tomorrow and if 2742 fails to hold the advance then there is a good chance for a reversal of the long term bearish trend. I thought a bearish market was a done deal after the price action in December but I might be proven wrong.

For 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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