Saturday, June 2, 2018

Elliott Wave Stock Market Update - June 1

The market gapped up in the morning after the strong jobs reports and now we have an IHS pattern targeting 2790. So unless there is some bearish miracle over the weekend, we should see a break out next week to higher highs. Maybe the resumption of the meeting with N Korea will be the excuse?

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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