[Forecast] Quick Elliott Wave Look At DOW and NASDAQ 1.07.16 – 5 waves down?

NASDAQ – On the 30 day 1 minute chart since this big drop has been forming, it appears NASDAQ has 5 waves down near completion, with the intraday spike possibly 4 up and 5 down within a 5 of 5 of 5..so this reversal could grow big legs and turn positive…to at least the 382 retracment or higher.. 382 would be positive, but 618 back to 4975-5000(!)

DOW – The DOW appears to have 5 waves down as well and the intraday rally could go positive to the 382 level..that would stop the full downward 3 form a 4 up and 5 down…a 4 again is 382 but a full 618 reversal would target as high as 17350 short term.

About the author

CEO Ted Aguhob, Master Elliottician and Technical Analyst, Day And Swing Trader, Website Designer And Marketer, Artist, Producer and Musician has provided content to gemxwave.com, wavegenius.com and masterofcharts.com for over 14 years. The biggest breakthrough as a blogger came in 2013 when Wavegenius.com produced a net profit of over $177,000 and became one of the highest earning blogs in the entire country. Many of his biggest and most amazing calls appeared on major financial websites like Thestreet.com, Yahoo Finance and MSN Money, was a radio personality on Washington DC Radio, and has a following in the tens of thousands for many years. Ted is known for his charisma, vision, creativity and better yet.."genius."

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