Tuesday, June 5, 2018

Elliott Wave Stock Market Update - June 5

The market made a higher high today early in the morning before giving up some of its gains. However, the wave doesn't look done yet so we should see higher prices again in the next session or two. The Nasdaq and Russell indexes have made new all-time highs, invalidating the intermediate their bearish patterns so we might see the SP500 do the same in the next few weeks.

Short Term Trend = Bullish
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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