Wednesday, June 6, 2018

Elliott Wave Stock Market Update - June 6

Prices continued to rise as expected and we could see the 2790-2800 resistance area tested soon. Resistance at 2801 is technically the bears last stand as a breach of this level would open up the doors to a continued rally towards all-time highs. A few months ago, the death cross seemed highly likely during summer but with this recent upsurge, bulls have again defied expectations.

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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