Market Minute

January 18, 2019

Good afternoon Elliott wave fans. This is Dana Weeks with Market Minute.

The stock market had a huge up gap as the advance/decline ratio expanded to 5:1, and TRIN fell to 0.34, its lowest reading since December 26th, indicating three times as much volume in up stocks as down stocks. The market ploughed higher until the E-mini S&P was up 41 points and the NASDAQ futures were up over 100 points.

The Dow Jones Industrial Average closed at 24,706, up 336 points.

The S&P 500 closed at 2,670, up 34 points.

The NASDAQ Composite closed at 7,157, up 73 points.

2,135 stocks closed up while 753 closed down.

E-mini S&P futures topped out at 2,676.50, had a low of 2,647 and closed at 2,671.50. E-mini Nasdaq futures hit a high of 6,828.25, a low of 6,736.25 and closed at 6,792.75.

T-bond futures were down 19 tics at 144-14 in late trading.

The US Dollar index was up a fraction of a point late in the session, trading at 96.36.

Gold and silver saw their biggest closing declines since early November and mid-December, respectively. Gold was down $11.60 at $1280.70, while silver was down 18 cents at $15.36 in late trading.

It may sound cliché, but many markets really ARE at crucial junctures right now. To keep up, you need to check out the just published Elliott Wave Theorist. Just go to Elliottwave.com and click on subscriptions.



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