Thursday, June 21, 2018

Elliott Wave Stock Market Update - June 21

Prices closed down today as expected and I assume the low made on Monday will be tested if not broken in the days ahead. Too early to get excited if you are betting on the bearish side but I still don't see how the market is going to go higher given the trade war news. I supposed if they backtrack then it will be bullish news but for now this is a cloud over the market that will not be easily shaken off.

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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