Friday, June 8, 2018

Elliott Wave Stock Market Update - June 8

The market closed the week on a strong note and we could see prices challenge resistance early next week. Iif prices are able to get past 2801, the natural target will be the ATH at 2872. Also, looking at weekly charts, I see a W4 type of correction nearing completion which suggests another bullish period for the next few months for a rally towards 3000. So this bull market seems to have some more time to run before a real bear market.

Have a great weekend!

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

No comments:

Post a Comment