Elliott Wave Stock Market Update - March 09

The market bounced today in what seems like a consolidating 4th wave and we should see the 50 DMA at 2062 tested if 2087 doesn't get breached. Once a lower low is made, we should see another counter rally that should give us an idea if this is part of a zig zag (bullish) or the beginning of a stronger correction that will be challenging the 200 DMA currently at the 2000 level. I guess it will depend on how the market decides to price the interest rake hike coming in the summer. 

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Short Term Trend = Bearish
Medium Term Trend = Bullish

Long Term Trend = Bullish

* Trends are not trade signals. Trends are posted for situational awareness only and does not take into account wave counts, technical or fundamental conditions of the market. While mechanically trading the posted trends is feasible, keep in mind that these are lagging indicators and as such are prone to whipsaw