Wednesday, June 20, 2018

Elliott Wave Stock Market Update - June 20

The market continued its counter-rally today to test resistance and the Trend Avg at 2775. If prices are able to overcome the TA then it has a chance of regaining its previously bullish bias but I continue to assume lower prices ahead as long as the TA is negative.

Short Term Trend = Bearish
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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