Thursday, October 26, 2017

Elliott Wave Stock Market Update - October 26

The market continued to bounce today but the price pattern remains the same. Also, this is the second close under the TA and we could see the TA finally turn bearish as soon as tomorrow. The bias leans to the downside but needs to be confirmed with a break of yesterday's low.

Short Term Trend = Bullish trend being challenged
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 whipsaws and I personally do not use nor recommend them to initiate or close positions in the market without taking

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