[Morning Forecast] Quick Elliott Wave Look At DJIA and NASDAQ 12.30.15

DJIA – Upward 3 formation 1-2-3 still intact even with this fade, but DOW needs to hold 17,600 to sustain the move..worst case it’s a 5th wave but that would be the case only if 17,600 breaks to the downside or 618 support of yesterday’s rally.

NASDAQ – Upward 3 formation is intact as well for NASDAQ, but needs to hold support at 5060 to sustain the move off of Monday’s lows..that’s 618 support of the Tuesday rally, and best case it’s a 2 before a 3 that forms a big upward 3 into next year.

Leave a Reply