Tuesday, May 8, 2018

Elliott Wave Stock Market Update - May 8

Prices pulled back slightly today and we could see a breakout attempt tomorrow if resistance at the neckline breaks. I would find it surprising the market is chooses to breakout after earnings and during this time of year but it is what it is. No point in fighting the trend.

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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