Elliott Wave Stock Market Update - September 11

Not much to add today as the outlook remains the same as yesterday. Seems like the market has wants wait for the Fed meeting to make the next move. My assumption is a rate hike is already priced in, so if they raise rates as expected then there should be some relief rally before heading back down. However, if for some reason the Fed holds on rates, then that will be an excuse for a substantial rally that might even end up reversing the long term bearish trend. Maybe they'll issue some "data dependent" statement again and keep markets guessing.

Have a great weekend!

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Short Term Trend = Bullish
Medium Term Trend = Bearish

Long Term Trend = Bearish

* 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 into consideration other factors.