Tuesday, June 12, 2018

Elliott Wave Stock Market Update - June 12

Prices did not break out after yesterday's seemingly succesful Trump-Kim summit and instead prices went into a sideways correction. However, we could see a rally attempt tomorrow or Thursday at the latest to break resistance. If bulls fail at it, we could see a substantial correction but for now my assumption is that resistance won't stop the rally.

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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