Monday, July 16, 2018

Elliott Wave Stock Market Update - July 16

The market closed slightly down today in what seems like a sideways correction so we could see more upside coming in the next day or two if the lows made today hold. We could see prices rally for the rest of the month if a breakout occurs this before the week is over as momentum favors the bulls. Maybe the market will take comfort in the recent meeting our President had with his boss. Has anyone ever heard a US President humiliate himself as much as he did with his recent statement? Never mind most Republicans are embarrassed, he is even getting heat from Fox and Friends! lol.

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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