Tuesday, May 15, 2018

Elliott Wave Stock Market Update - May 15

I was expecting the market to go up today but it did not happen. Still, the count remains viable  and we should see another leg to a higher high. However, I am not sure how the market will receive the new that North Korea might cancel on Trump. No big deal economically speaking but not exactly good for sentiment.

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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