[Forecast] Quick Morning Elliott Wave Look: NASDAQ and DJIA 12.28.15

NASDAQ – We went up and broke 786 retracement and than the bastards HAD to drop it today of course..but all is not lost yet…618 support is still intact but needs to hold at 4977 to keep the upside reversal intact..there’s still a good chance we bottomed, but it’s quite aggravating waking up and seeing what we’re seeing this morning.

DOW – DOW broke 786 as well, but needs to hold 618 fibonacci support at 17300..if it can do that and break 17600 again it would setup W1, W2, W3 into a full 1.00 breakout.  The chart has been very sideways for a long time so the breakout that ensues would setup a pretty large upward 3 that would last months..

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