Quick Elliott Wave Glance At NASDAQ and DOW 2.01.16

DOW: The gap down this morning was bought immediately and if DOW can break 16420 today it may setup a 3 of 3 pattern..highest target on a 3 of 3 would be as high as 17,100-17,200 on a 1.618 move..past 15 days, we got W1-w2 before W3 in a large cup and handle which is the strongest W2 formation in existence..

NASDAQ: [ms-protect-content id=”61,117″]  NASDAQ in the past 10 days has a large cup and handle 2 before 3 formation and today is about to go positive..if it goes positive I’d expect a continuation of a W3 ..highest target could be as high as 4850-4875 based on this very powerful formation alone. [/ms-protect-content]

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