Tuesday, July 31, 2018

Elliott Wave Stock Market Update - July 31

The market bounced as expected and we could see the TA turn bearish tomorrow. A break of 2798 would solidify a bearish bias for the rest of the week. We might see prices test the 50 DMA (2765 and rising) and find a bottom there.

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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