Thursday, April 12, 2018

Elliott Wave Stock Market Update - April 12

The market pushed again towards resistance but has not been able to through it yet. If resistance breaks we should see prices shoot immediately towards the 50 DMA at 2693 and we will see then if the rally truly has legs. Seasonally speaking, this is normally a good time for the market and is not only until late May when things start to turn bearish/neutral. But considering the current political climate, we should be ready for volalitity.

Short Term Trend = Bullish
Medium Term Trend = Bullish trend being challenged
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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