Thursday, June 7, 2018

Elliott Wave Stock Market Update - June 7

The market went into a mild correction today and seems to be consolidating before getting ready to challenge the next level of resistance at 2790-2800. Given the new all-time highs in the RUT and NASDAQ indexes, I think bulls might pull one out of the hat and reach a new ATH in the summer. We'll find out soon.

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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