Thursday, March 29, 2018

Elliott Wave Stock Market Update - March 29

Prices have bounced from yesterday's lows but the high today is a lower high. Unless we see more upside soon we will see selling resume. For now, I think there are a lot of traders in a wait and see mode as this could just turn out to be a correction or the actual rollover into a bear market.

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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