Wednesday, May 16, 2018

Elliott Wave Stock Market Update - May 16

The market started to bounce today and we should see a higher high if the count posted is correct. If the market goes into a correction and doesn't go below 2704 then we should see a strong bullish wave in the next day or two. If 2704 breaks then 2683 would be the line in the sand for the 5 count to remain in play.

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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