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Stock Market Analysis With The Elliott Wave Principle -Dow Jones, S&P 500, Russell 2000, Nasdaq and FX. All charts and commentary on this site are strictly the opinions of the author(s) and are for recreational purposes only. In no way should this be construed as trading advice or a recommendation for investing. See disclaimer at the bottom of the page.
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Wednesday, January 20, 2016
1/20/16 - EOD Update
Some buyers came in or shorts covering the day. We'll see if this breaks up out of the falling wedge. The bounce could still be a wave iv and possibly dip once more lower for v. Doesn't have to tho so we'll see tomorrow.
If you believe in the daily yellow option below, a potential flat may be complete. Of course the caveat is that the other flat in blue has wave (c) = (a) at this point but 1.618*(a) = 1705ish so we'll be ready.