Wednesday, March 28, 2018

Elliott Wave Stock Market Update - March 28

The market got very close to its 200 DMA again but remains trading above it. However, unless there is a strong rally tomorrow the recent low at 2585 is likely to be tested or broken during a selloff in the next session or two. The 50 DMA is starting to descend and bulls are running out of time. I will be on the sidelines saving cash in the meantime.

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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