Tuesday, November 21, 2017

Elliott Wave Stock Market Update - November 21

The market completed the 5 wave count to reach  new ATH and now the TA has turned bullish once again. The "correction" is technically over with 2557 as the level that will support this new uptrend. So, I am assuming the coming pullback will retrace some of the gains and then rally again past 2600 to reach new highs.

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 whipsaws and I personally do not use nor recommend them to initiate or close positions in the market without taking

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