Saturday, July 7, 2018

Elliott Wave Stock Market Update - July 06

The market broke out of its IHS pattern and is likely to go higher. I suspected bears had run out of fuel when I saw the bottoming pattern and this is why is always good to keep an eye for these possible trade changes. The TA turns bullish again on this reversal and my assumption is the 2790-2800 range will be challenged again.

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