Tuesday, March 20, 2018

Elliott Wave Stock Market Update - March 20

Prices continued its counter-rally today but there weren't any sizable gains and we could see selling resume in the next day or two. My guess is support in the 2695-2700 area will not hold and prices will head down to the next level of support around 2650 level.

Short Term Trend = Bearish
Medium Term Trend = Bullish trend being challenged
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 whipsaws and I personally do not use nor recommend them to initiate or close positions in the market without taking

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