Monday, June 18, 2018

Elliott Wave Stock Market Update - June 18

The market made a lower low today and the close was below the Trend Average for the first time since late May. So it seems the top is likely in for a while if we start to see stronger selling in the days ahead. Considering Trump is playing hardball with China and seemingly everyone else (he forgets there is a WTO in place for trade disputes), this all points to a bad news in the not too distant future and the market is going to reflect that. Trade wars are not "easy to win" and once we go into a recession Mr stable genius will blame Obama or Hillary.

Short Term Trend = Bullish trend being challenged
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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