Monday, March 26, 2018

Elliott Wave Stock Market Update - March 26

The market staged a strong counter-rally today but remains well below the TA. If prices are able to reach 2694 then the most bearish option would be invalidated. Also, if the 200 DMA test low of 2585 is able to hold the next bearish wave then there is a chance the market is making a triangle pattern that will make prices trade sideways for several weeks. For now, the assumption is there will be lower lows ahead.

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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