Saturday, June 30, 2018

Elliott Wave Stock Market Update - June 29

Prices rose to test the TA after all before reversing towards the end of the session. The bias continues to be bearish going into next week but it's important to point out a possible bottom pattern in place if 2692 is not taken out soon. The high today could be a neckline for an IHS targeting 2800 so bearish bets need to keep that scenario in mind. I am all cash and waiting for a trade set up.

Have a great weekend!

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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