Thursday, May 24, 2018

Elliott Wave Stock Market Update - May 24

Prices had a bearish start for the day after Trump announced he would be cancelling the much anticipated meeting with N Korea but the market regained most of the losses by the end of the day. The close is again above the TA and all this sideways trading could be interpreted as a correction. So unless support is broken for good, we will see another rally coming in the next few sessions.

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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