Elliott Wave Stock Market Update - May 27

The market re-bounded to test the Trend Average today and we should find out soon if a summer correction has started. To confirm the bearish scenario we need to see a strong sell off wave  to make a lower low, ideally below 2068. Alternatively, if bulls manage to continue the rally tomorrow to challenge all time highs, we could see another IHS set up that targets higher highs.

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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.