Elliott Wave Stock Market Update - February 19

The market made a slight higher all time high today that could technically qualify as the (V) of W3. However, if 2102 is just the 1st wave of this (V), then I see target of 2120. It will depend of whether the market respects the 2090.79 low. Once the W3 is complete, we should see a stronger correction and perhaps one last rally towards 2150 to finish up the 5 wave count that started at 1980. If we get there, that's where I will start shorting to hedge or even take some profit and go net short on my trading account.

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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