Monday, July 30, 2018

Elliott Wave Stock Market Update - July 30

The market has gone into a correction since the last update and I see the potential for continued downside after a bounce. As it is, the close today is below the Trend Average and we could see the trend turn in the next few sessions. With that said, this should be considered a correction within an uptrend until proven otherwise.

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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