Friday, May 11, 2018

Elliott Wave Stock Market Update - May 11

Prices have continue to rise as expected and it looks like there is a 5 count in play. If it is indeed a new impulse, prices could easily reach 2800 in the next few weeks. It's unusual for the markets to rally in the summer but given the possible consolidation in the last few months this is now a real possibility.

Have a great weekend!

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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