Elliott Wave Stock Market Update - February 18

The market started a minor correction as expected but it was so shallow that it raises the possibility of the W3 not being finished yet. So I am going to assume the top yesterday was just the 3 of W3, which allows for a 5 of W3 to yet another all time high.  And perhaps then we will then see the Trend Average tested, which is at 2076 and rising fast. Maybe this year we will see the "Sell in May" scenario again after reaching a substantial high in April or May, so far the waves are lining up. And don't forget that big Inverse Head and Shoulders targeting 2400 is still in place.


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Short Term Trend = Bullish
Medium Term Trend = Bullish

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 whipsaw