Monday, May 18, 2015

Elliott Wave Stock Market Update - May 18

The micro-count posted seems to have completed today and we should see a correction in the next session or two. This count could evolve into a bigger impulse to complete the IHS projection or could end up being an Ending Diagonal. We should get an idea by the end of this week or early next week on the most likely outcome. But I'd be surprised if the market manages to keep rallying into the summer without a meaningful correction, I guess we'll find out soon.

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Short Term Trend = Bullish
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.

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