Tuesday, April 3, 2018

Elliott Wave Stock Market Update - April 3

The market staged a counter-rally today and we could see prices challenge the the TA and go as high 2659 if the move continues. However, the overall downtrend is likely to continue and eventually cause a death cross sometime in May or summer. The only thing that will reverse this downtrend is the recapture of the 50 DMA currently at 2721.

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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