Thursday, July 12, 2018

Elliott Wave Stock Market Update - July 12

The market has followed the posted count and today's rally technically completes the count. What remains to be seen in the next few days is whether the intermediate bearish pattern is invalidated. The high today was 2799 so just a few points more and this could open the door to a rally to challenge all-time highs. I thought markets would be dropping by now but I guess the count will finish when it wants to finish, so just need to be patient.

Short Term Trend = Bullish
Medium Term Trend = Bullish
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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