Elliott Wave Stock Market Update - March 03

The market did not follow through on yesterday's rally and surprisingly a new all time high on the SP500 was not reached. Still, not all hope is lost since these waves from the 2019 high look corrective and possibly is setting up the market for a stronger rally than the ones we've seen recently. The key support level to watch for is now 2085 and obviously the Trend Average at 2108, which the market must recapture in order to maintain a bullish bias.

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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