Tuesday, May 1, 2018

Elliott Wave Stock Market Update - May 1

The market made a lower today but managed to bounce back and close the day in positive territory. If the bounce stalls before before the neckline mentioned yesterday then there will be a good chance a strong bearish will come to test if not break the 2612 low this or next week.

Short Term Trend = Bearish
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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