Elliott Wave Stock Market Update - September 14

The market didn't do much today as the focus seems to be the Fed's decision on rates. I think the main question at this point is how much of a rate hike the market has already priced in. A decision not to raise rates would ignite a rally for sure but that looks unlikely. Perhaps they will raise rates but leave further rate hikes on hold? I assume the market would rally on that but it remains to be seen. The major trends remain bearish with only the short term trend favoring a higher high.

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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.