Wednesday, June 27, 2018

Elliott Wave Stock Market Update - June 27

The market ended down after reversing all of its earlier gains. Technically speaking, the market could use the test of yesterday's lows to form a double bottom but given the how gains were sold into today, I think the bulk of the selling is yet to come. Stable genius antics and seasonality favors a lot more downside at this point.

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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